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NEW YORK (GenomeWeb) – Laboratory Corporation of America said today that it plans to acquire Sequenom for $302 million in cash. The deal is expected to close by the end of the year.

Under the terms of the merger agreement, LabCorp will acquire all of Sequenom's outstanding stock for $2.40 per share, or an equity value of $302 million, in a cash tender offer. Including Sequenom's net indebtedness, this represents a total enterprise value of approximately $371 million.

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