LabCorp acquiring Sequenom

Diagnostics company Laboratory Corp. of America Holdings (NYSE:LH) is acquiring Sequenom Inc. (NASDAQ:SQNM) for $2.40 per share, or about $371 million including Sequenom's net debt. The price is a 182% premium to Sequenom's close of $0.85 on Tuesday, before the deal was announced.

Sequenom's market cap peaked above $4 billion shortly after its IPO in 2000, during the biotech bubble. ...