Typical ET. No idea what is going on in the market.
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Monogram Biosciences to be acquired by LabCorp for $4.55 per/share in all cash transaction (MGRM) 1.68 : Laboratory Corporation of America (LH) and Monogram Biosciences (MGRM) announce that they have entered into a definitive agreement and plan of merger under which LabCorp will acquire all of the outstanding shares of Monogram in a cash tender offer for $4.55 per share for an implied total equity value of approx $106.7 mln, or a total enterprise value of approx $155 mln at March 31, 2009, including net indebtedness. "... We expect the transaction will significantly accelerate the development of products that will improve treatment outcomes for patients with infectious diseases and cancer." The acquisition is expected to be approx $0.12 dilutive to LabCorp's 2009 earnings per share, including approx $0.04 of transaction related costs, and slightly accretive to 2010 EPS.
