Brief: Labcorp To Spin Off Clinical Development Business

Laboratory of America Holdings

28/07/2022 12:27

July 28 (Reuters) - Laboratory Corporation of America
Holdings  LH.N :
    * LABCORP TO SPIN OFF CLINICAL DEVELOPMENT BUSINESS
    * LABCORP - PLANNED SPIN-OFF WILL RESULT IN TWO INDEPENDENT,
PUBLICLY TRADED COMPANIES
    * LABCORP - PURSUE A SPIN-OFF OF COMPANY'S WHOLLY OWNED
CLINICAL
DEVELOPMENT BUSINESS TO LABCORP SHAREHOLDERS THROUGH A TAX-FREE
TRANSACTION
    * LABCORP - ADAM SCHECHTER WILL CONTINUE TO LEAD LABCORP AS
CHAIRMAN AND CEO FOLLOWING COMPLETION OF PLANNED SPIN-OFF
    * LABCORP - LABCORP WILL CONTINUE TO BE HEADQUARTERED IN
BURLINGTON, NORTH CAROLINA.
    * LABCORP - CURRENTLY EXPECTS TO EFFECT PLANNED SPIN-OFF
THROUGH A
DIVIDEND OF CLINICAL DEVELOPMENT BUSINESS' SHARES TO LABCORP'S
SHAREHOLDERS
    * LABCORP - FOLLOWING SPIN-OFF, LABCORP EXPECTS TO CONTINUE
TO BE
PUBLICLY TRADED ON NEW YORK STOCK EXCHANGE
    * LABCORP - LABCORP IS TARGETING COMPLETION OF PLANNED
SPIN-OFF IN
SECOND HALF OF 2023
    * LABCORP - SPIN-OFF IS INTENDED TO QUALIFY AS A TAX-FREE
TRANSACTION FOR U.S. FEDERAL INCOME TAX PURPOSES
    * LABCORP - EXPECTS CLINICAL DEVELOPMENT BUSINESS TO BE
PUBLICLY
LISTED

Source text for Eikon:  ID:nBw3Px3X5a 
Further company coverage:  LH.N 

 ((Reuters.Briefs@thomsonreuters.com;))