LabCorp to buy Covance for $6.l billion

(Reuters) - Laboratory Corp of America Holdings, a provider of healthcare diagnostic services, said it would buy contract research company Covance Inc for about $6.1 billion in cash and stock. Covance shareholders will receive $75.76 in cash and 0.2686 LabCorp shares for each share held. The offer of $105.12 per share, based on LabCorp's Friday closing price, represents a premium of 32 percent. (Reporting by Natalie Grover in Bangalore; Editing by Sriraj Kalluvila)



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