Laboratory Corp. (LH) to Acquire Orchid Cellmark (ORCH) in $85.4M Deal
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Laboratory Corporation of America Holdings (NYSE: LH) and Orchid Cellmark Inc. (Nasdaq: ORCH) announced that they have entered into an agreement whereby Lab Corp will acquire Orchid Cellmark for $2.80 per share in cash, or total consideration of $85.4 million.
Under the terms of the agreement and plan of merger, LabCorp has formed an acquisition subsidiary, OCM Acquisition Corp., that will commence a tender offer to purchase all outstanding shares of Orchid Cellmark for $2.80 per share.
Closing is expected in Q211.
Under the terms of the agreement and plan of merger, LabCorp has formed an acquisition subsidiary, OCM Acquisition Corp., that will commence a tender offer to purchase all outstanding shares of Orchid Cellmark for $2.80 per share.
Closing is expected in Q211.
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