Laboratory Corporation of America Holdings (LabCorp) (LH) Extends Tender Offer for All Outstanding Shares of Orchid Cellmark (ORCH)
11/15/2011 7:47:27 AM
BURLINGTON, N.C.--(BUSINESS WIRE)--Laboratory Corporation of America® Holdings (NYSE: LH) today announced that LabCorp is extending until 5:00 p.m., New York City time, on November 30, 2011 LabCorp’s previously announced cash tender offer for all outstanding shares of the common stock of Orchid Cellmark Inc. (NASDAQ: ORCH). On May 17, 2011, LabCorp received a request from the Federal Trade Commission, or the FTC, for additional information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the acquisition of Orchid by LabCorp. LabCorp previously extended its tender offer to November 14, 2011. LabCorp is continuing to cooperate with the FTC’s request for additional information and is consequently further extending the expiration of the tender offer. To allow more time to consummate the transactions contemplated by the Offer to Purchase, LabCorp, OCM Acquisition Corp. and Orchid have amended their previously announced Agreement and Plan of Merger dated April 5, 2011, as amended (the “Merger Agreement”), to extend the Extended Outside Date (as defined in the Merger Agreement) of the Offer by an additional 30 calendar days, or until December 14, 2011.