Enzo Biochem soars after deal to sell Clinical Laboratory unit

Laboratory of America Holdings

17/03/2023 09:47

** Shares of molecular diagnostics company Enzo Biochem
 ENZ.N  rise 85.7% to $2.21 premarket
    ** Labcorp  LH.N  to acquire assets of co’s Clinical
Laboratory unit for ~$146 million in cash
    ** Co's Clinical Lab segment is a clinical reference
laboratory, which provides clinical services to physicians,
medical centers, other clinical labs and pharmaceutical cos
    ** Co says some officers & directors have agreed with
Labcorp to vote the shares they beneficially own, totaling up to
~11% of the shares outstanding, in favor of deal
    ** ENZ fell 55.5% in 2022

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))