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US: $6.1B merger to create world’s top health diagnostics firm

By  |  November 3, 2014

Laboratory Corp. of America announced Monday to acquire Covance in a $6.1 billion takeover that reports say will create a new behemoth in the world’s healthcare diagnostics industry.

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    Laboratory Corp said it plans to acquire the contract research organization firm and complete the transaction by the first quarter of 2015. The merged company will specialize in clinical trials and improving their efficacy and efficiency.

    Reports say it will be the largest healthcare,/a> diagnostics firm.

    The merger remains subject to regulatory approval.

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