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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.