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LabCorp to acquire DynaCare for $480m

Laboratory Corporation of America Holdings (LabCorp) (Nyse: LH) of Burlington has entered into a definitive agreement to acquire DynaCare Inc. (Nasdaq: DNCR) of Dallas for approximately $480 million in cash and stock.

Under the terms of the agreement with DynaCare, which provides clinical laboratory testing services in 21 states and two Canadian provinces, LabCorp will acquire 100 percent of the outstanding shares of DynaCare common stock for $23.00 per share. In addition, LabCorp will assume approximately $205 million in DynaCare debt.

The agreement was unanimously approved by the boards of both companies. The offer and the merger are conditioned on a favorable vote by the holders of two-thirds of DynaCare's outstanding common shares and regulatory approvals in the U.S. and Canada.

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For more information visit the company's Web site at www.labcorp.com.

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LabCorp to acquire DynaCare for $480m

BT Catalyst, June, 2002

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