Bio-Reference Laboratories Inc., Dianon deal

BRLI made an unsolicited offer to purchase DIAN in a stock swap, under which DIAN shareholders would receive one common share of BRLI common stock plus $1 for each DIAN share held. DIAN, which provides cancer and genetic reference laboratory services, declined to comment on the proposal. BRLI provides clinical testing services.

DIAN (Stratford, Conn.) reported net income of $1.4 million (26 cents a share) on sales of $41 million in 1994. BRLI (Elmwood Park, N.J.) reported net income of $1.1 million (20 cents) on revenues of $22.9 million. ...