Quest Buys Celera for $657 million

March 20, 2011

March 21, 2011 | Quest Diagnostics said on Friday it will pay $8/share for Celera, a $657 million bid. The gene sequencing company founded by Craig Venter, has a promising genetic testing pipeline in cardiovascular disease, cancer, and neurological disorders, an analyst told Reuters. Competitive bids could come from Abbott, with whom Celera co-owns a product; Life Technoloiges, with whom co-owns a technology; or Laboratory Corp. Reuters