LabCorp extends $4.55-per-share tender offer for Monogram Biosciences

By Lisa Kerner

Charlotte, N.C., July 28 - Laboratory Corp. of America Holdings extended is tender offer for Monogram Biosciences, Inc. to midnight ET on Aug. 3 from July 29.

According to LabCorp, the offer was extended to allow for the public disclosure of amendments to its offer to purchase and Monogram's solicitation/recommendation statement filing with the Securities and Exchange Commission.

LabCorp began its $4.55-per-share tender offer for Monogram on July 1.

As previously reported, the transaction has a total equity value of approximately $106.7 million, or a total enterprise value of approximately $155 million at March 31 including net debt.

LabCorp and Monogram agreed in principle with the shareholder plaintiffs to settle purported class-action lawsuits filed in Delaware and California related to the pending tender offer and subsequent merger of the two companies, a LabCorp news release said.

Burlington, N.C.-based LabCorp develops diagnostic technologies through genomic testing.

Monogram is a South San Francisco, Calif.-based company that develops and markets products to guide and improve the treatment of serious infectious diseases and cancer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.