NEW YORK (GenomeWeb) – Laboratory Corporation of America and Covance today announced a definitive agreement under which LabCorp will acquire Covance for about $6.1 billion in cash and stock.

LabCorp will pay approximately $105.12 per Covance share, a 32 percent premium to Covance's closing stock price of $79.90 on Oct. 31. On an enterprise value basis, the deal is valued at $5.6 billion.

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