Quest's $344M Celera Buy Averts Antitrust Hurdle

Law360, New York (April 13, 2011, 3:21 PM EDT) -- Quest Diagnostics Inc.'s planned $344 million purchase of genetic research and development company Celera Corp. took a step toward completion Wednesday with the expiration of a statutory waiting period for antitrust regulators to scrutinize the deal.

That waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired in connection with the $8-per-share all-cash tender offer for Alameda, Calif.-based Celera, Quest said.

A majority of Celera shareholders still must approve the tender offer, which expires March 25, unless Quest extends it. The deal also contains a...
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