MEDTOX Scientific up 35% on Acquisition by LabCorp

MEDTOX Scientific MTOX is trading higher on the session following the acquisition by LabCorp. Under the terms of agreement, the purchase price is $27.00 per share, which totals approximately $241 million. Dick Braun, Chairman and Chief Executive Officer of MEDTOX said, “This transaction highlights the fundamental value of the MEDTOX brand, the talent and expertise of our team and the quality of our products and testing services. As part of LabCorp with its substantial resources and infrastructure, we expect to accelerate MEDTOX's profitable growth and provide a stable and sustainable environment for our employees and clients.” MEDTOX Scientific is currently trading at $26.66, a gain of $6.96 or 35.33%