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Strategies & Market Trends : Guidance and Visibility

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To: nokomis who wrote (195135)	6/23/2009 10:35:26 AM
From: ACAN	Read Replies (2) of 208838

MGRM LabCorp buying Monogram for $106.7 million LabCorp buying Monogram Biosciences for $106.7 million in bid to expand testing products On Tuesday June 23, 2009, 10:09 am EDT Buzz up! 0 Print Companies:Laboratory corp. of america holdingsMonogram biosciences, inc. NEW YORK (AP) -- Laboratory Corp. of America Holdings said Tuesday it will buy Monogram Biosciences Inc. for about $106.7 million, plus debt, in a cash tender offer as part of a strategy to expand its disease-testing products. Burlington, N.C.-based LabCorp will pay $4.55 per share for South San Francisco, Calif. based Monogram. That marks a 170 percent premium to the stock's closing price of $1.68 Monday. Shares of Monogram quickly climbed to meet the buyout price, reaching $4.51 in morning trading. The buyout, including debt, will cost $155 million.

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