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Shareholders Hugely Oversubscribe LabCorp’s $500 Million Offering

COMMERCIAL LABORATORIES may be regaining favor on Wall Street. Laboratory Corporation of America’s $500 million convertible stock offering not only sold out, but was over-subscribed by a huge amount. In addition to the 10 million convertible shares offered, subscription agreements and payments for an additional 3.98 million shares were tendered. Investor response to LabCorp’s offering …

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