Covance, Inc. (CVD) Reports In-Line Q3 EPS; Issues Light EPS Outlook
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November 3, 2014 12:59 PM EST
Deutsche Bank maintained a Buy rating on Laboratory Corporation of America (NYSE: LH) and raised its price target to $120.00 (from $116.00). Analyst Darren Lehrich thinks investors are too negative on its Covance, Inc. (NYSE: CVD) deal.
"LH... More
November 3, 2014 6:07 AM EST
Laboratory Corporation of America Holdings (NYSE: LH) entered into a definitive agreement to acquire Covance Inc. (NYSE: CVD) for $105.12 per Covance share in cash and stock, or an equity value of approximately $6.1 billion and an enterprise value of approximately $5.6 billion.
The combination will create the worlds leading healthcare diagnostics company, capitalizing on LabCorps industry leadership in medical testing and Covances leadership in contract research.
Under the terms of the agreement, which has been approved by the Boards of Directors of both companies, Covance shareholders will... More
