U.S. Federal Trade Commission Approves Laboratory Corporation of America Holdings (LabCorp) (LH)’s Acquisition of Orchid Cellmark (ORCH)
12/9/2011 6:00:46 AM
BURLINGTON, N.C.--(BUSINESS WIRE)--Laboratory Corporation of America® Holdings (NYSE: LH) today announced that it has reached an agreement with the U.S. Federal Trade Commission allowing LabCorp to complete its acquisition of Orchid Cellmark Inc (NASDAQ: ORCH). Under the terms of the proposed consent decree that was accepted by the FTC for public comment, LabCorp is required to divest certain assets of Orchid Cellmark’s U.S. government paternity business following closing of the acquisition. LabCorp has reached agreement to sell those assets to DNA Diagnostics Center (DDC), a privately held provider of DNA paternity testing.