Skip to main content
Premium Trial:

Request an Annual Quote

LabCorp Extends Offer for Orchid Cellmark

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Laboratory Corporation of America announced today that it has extended its tender offer for all of the outstanding shares of Orchid Cellmark until 6:00 p.m., New York City time, on June 15, 2011.

LabCorp announced its $85.4 million offer, or $2.80 per share, to acquire Orchid in April. Less Orchid Cellmark's cash and cash equivalents, and available for sale securities as of Dec. 31, 2010, the price of the deal is worth about $65.6 million.

A couple of weeks ago, LabCorp extended the offer to June 1, 6 p.m. EDT, after the US Federal Trade Commission requested additional information.

As of last night, Orchid shareholders had validly tendered, and not withdrawn, 24.7 million shares of Orchid common stock, including 199,438 shares of Orchid common stock tendered through notices of guaranteed delivery. The shares tendered represent around 82 percent of Orchid's outstanding stock.

The Scan

Panel Votes for COVID-19 Pill

A US Food and Drug Administration panel has voted to support the emergency use authorization of an antiviral pill for COVID-19 from Merck and Ridgeback Biotherapeutics, CNN says.

But Not Harm

New Scientist reports that UK bioethicists say that though gene editing may improve food production, it should not harm livestock welfare.

Effectiveness Drop Anticipated

Moderna's Stéphane Bancel predicts that that current SARS-CoV-2 vaccines may be less effective against the Omicron variant, the Financial Times reports.

Cell Studies of Human Chromatin Accessibility, SARS-CoV-2 Variants, Cell Signaling Networks

In Cell this week: chromatin accessibility maps of adult human tissues, modeling to track SARS-CoV-2 variants of concern, and more.