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Diagnostics giant Laboratory Corp. of America (LH) agreed to a $6.1 billion cash-and-stock deal to acquire contract research organization Covance (CVD), or about 105.12 per Covance share, 32% above its closing price Friday. The news sent Covance stock rising more than 25%, at a nearly seven-month high above 100, and LabCorp stock falling nearly 8% in late-morning trading on the stock market today. LabCorp already has a small business in testing Scalper1 News
Scalper1 News