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Former genomics star Celera sells to Quest for $344M net of cash
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Fame is but a memory
Monday, March 21, 2011
Celera Corp. (NASDAQ:CRA), which was first to the finish line in
the race to sequence the human genome, will be going out with a whimper barely
a decade later when it is acquired by fellow diagnostic and pharmacogenetics
company Quest Diagnostics Inc. (NYSE:DGX).
On paper, last week's deal
price is $670.8 million in cash. But net of Celera's $327 million in cash, the
transaction value is $344 million. This is less than 3% of the company
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