2014 Biotech Charity Contest Message Board

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Biotech / Medical : 2014 Biotech Charity Contest

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To: BulbaMan who wrote (420)	11/9/2014 11:36:39 PM
From: technetium	Read Replies (2) of 487

LabCorp to buy Covance dealbook.nytimes.com "Under the terms of the deal, LabCorp [LH] will pay $105.12 a share, nearly 32 percent higher than the close of Covance shares on Friday. Covance shareholders will receive $75.76 in cash and 0.2686 of a LabCorp share for each share they own. They will own about 15.5 percent of the combined company." This news is followed by announcements from a variety of law firms launching investigations of CVD over its proposed sale to Laboratory Corp. of America Holdings for $5.6 billion. Unhappy campers. I don't know if this can/will delay or alter this sale. "The investigation focuses on whether Covance's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Covance's shareholders." finance.yahoo.com

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