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LH - Laboratory Of America Holdings News Story

$254.75 2.7  1.1%

Last Trade - 09/04/21

Sector
Healthcare
Size
Large Cap
Market Cap £18.14bn
Enterprise Value £21.48bn
Revenue £10.20bn
Position in Universe 493rd / 6827

Jana Partners nominates directors at Labcorp, including Crawford

Tue 23rd February, 2021 6:26pm
BOSTON, Feb 23 (Reuters) - Activist investment firm Jana
Partners has nominated directors to the board of life sciences
company Laboratory Corp of America Holdings  LH.N , including
Edwin "Mac" Crawford, who has a reputation for turning around
struggling companies, sources familiar with the matter said on
Tuesday.
    Jana Partners bought 811,661 shares in Labcorp late last
year. News that it has engaged with the company and nominated
directors sent the company's share price higher on Tuesday.
    The stock climbed as much as 3% but then lost some ground to
trade at $246.63 in early afternoon.
    Jana declined to comment.
    Crawford, a former chairman of CVS Caremark, has teamed up
with Jana Partners in the past and took a board seat at Team
Health Holdings along with a partner from Jana in 2016.
    Bloomberg first reported that Jana had nominated directors
at Labcorp.
    The company did not immediately respond to requests for
comment.

 (Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))
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