Skip to main content
Premium Trial:

Request an Annual Quote

LabCorp's $85M Orchid Buy Extended

NEW YORK (GenomeWeb News) – Laboratory Corporation of America today announced it is extending its cash tender offer to buy Orchid Cellmark until September 9 as it continues to cooperate with the Federal Trade Commission in a deal worth $85.4 million.

The two companies announced the deal in April, and in May LabCorp received a request from the FTC for additional information related to the acquisition. Today's announcement is the fifth extension of the deal. Most recently the deal had been extended to Aug. 12.

According to the depository for the tender offer, as of 5 p.m. Aug. 12, EDT, shareholders of Orchid had validly tendered and not withdrawn about 26.2 million shares of the company's common stock, including 333,385 shares of Orchid stock tendered through notices of guaranteed deliver, LabCorp said.

The shares tendered make up about 87.4 percent of outstanding shares of Orchid, and about 86.3 percent excluding the shares tendered by notices of guaranteed delivery.

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.