Monday, August 22, 2011

Holdout Celera shareholder sells stock to Quest Diagnostics

A large hedge fund investor in Celera Corp. surrendered its 19.3 million shares to Quest Diagnostics Inc. , which bought the Alameda genetic test developer in May.
Biotechnology Value Fund LP withdrew its demand for an appraisal of its shares and accepted the same $8-per-share payout Quest (NYSE: DGX) made to other Celera shareholders. BVF general partner Mark Lampert had said in March that the Quest deal didn't adequately value Celera.

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