Laboratory Corp. Of America Completes Covance Acquisition - Quick Facts

(RTTNews) - Laboratory Corporation of America Holdings (LH) announced the completion of its acquisition of Covance Inc., following its entry into a definitive purchase agreement on November 2, 2014. At closing, the purchase consideration was valued at $107.19 per Covance share, consisting of $75.76 in cash and 0.2686 LabCorp shares for each Covance share, or an equity value of approximately $6.2 billion and an enterprise value of approximately $5.7 billion.

The closing of the deal follows the receipt of all necessary regulatory requirements and approval of the transaction by Covance shareholders on February 18. With the closing of the transaction, Covance common stock will cease trading and will no longer be listed on the NYSE.