LabCorp Begins Cash Tender Offer For Sequenom Shares - Quick Facts

(RTTNews) - Laboratory Corp. of America Holdings (LH) said it has commenced its cash tender offer for all outstanding shares of the common stock of Sequenom, Inc. (SQNM) for $2.40 per share.

The tender offer is being made by Savoy Acquisition Corp., a wholly owned subsidiary of LabCorp, pursuant to an offer to purchase, dated August 9, 2016. LabCorp and Sequenom previously announced that they entered into an agreement and plan of merger, dated as of July 26, 2016, for LabCorp to acquire Sequenom.

The board of directors of Sequenom has determined that the merger agreement, the offer and the merger are fair and advisable to, and in the best interests of Sequenom and its stockholders.

The tender offer and any withdrawal rights are scheduled to expire on Wednesday, September 7, 2016, unless extended.