Quest Reduces Unilab Purchase Price
- Share via
Quest Diagnostics Inc. reduced the amount of its planned $1.1-billion purchase of rival Unilab Corp. by about 5% after U.S. officials required the sale of some assets.
Unilab is the largest provider of diagnostic testing services in California, and the Federal Trade Commission raised concerns about Quest having too much control of the market in the northern part of the state.
Shares of Teterboro, N.J.-based Quest rose $2.07, or 3.7%, to $57.86 on the NYSE.
Shares of Tarzana-based Unilab fell 48 cents, or 2.4%, to $19.19 on Nasdaq.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
