Friday, April 8, 2011

Big Celera shareholders line up against Quest deal

Two Celera Corp. shareholders do not support the company’s planned $344 million acquisition by Quest Diagnostics Inc. and say the companies need to renegotiate the deal.
Starboard Value & Opportunity Fund and Biotechnology Value Fund LP said in separate letters to Alameda-based genetic test developer Celera (NASDAQ: CRA) and Quest (NYSE: DGX) that the $8 per share deal does not reflect Celera’s value.

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