Davis Polk advised the joint book-running managers and representatives of the underwriters on a public offering by Laboratory Corporation of America Holdings (LabCorp) of $500 million aggregate principal amount of 2.625% senior notes due 2020, $500 million aggregate principal amount of 3.200% senior notes due 2022, $1 billion aggregate principal amount of 3.600% senior notes due 2025 and $900 million aggregate principal amount of 4.700% senior notes due 2045.   

Based in Burlington, North Carolina, LabCorp is the second-largest independent clinical laboratory company in the United States performing a range of clinical tests from routine blood analyses to HIV and genomic testing and specializes in developing diagnostic technologies. LabCorp intends to use the proceeds from this offering to pay a portion of the cash consideration and the fees and expenses in connection with LabCorp’s pending acquisition of Covance Inc.   

The Davis Polk team included partner John G. Crowley and associates Kavita Paw and Jennifer Ying Lan. Partner Michael Farber and associate Catherine L. Chu provided tax advice. The environmental team included counsel Loyti Cheng and associate Michael Comstock. The intellectual property team included partner Frank J. Azzopardi and associate David He. All members of the Davis Polk team are based in the New York office.  

 

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