- Laboratory Corp of America Holdings LH is in talks to combine some of its assets with Syneos Health Inc SYNH, reports Bloomberg citing people with knowledge of the matter.
- The companies are discussing a deal in which part of LabCorp's Covance clinical research division would merge with Syneos.
- The sources said that the companies are discussing structuring the deal as a so-called Reverse Morris Trust, which provides tax benefits by spinning off an asset before it's combined.
- Bloomberg also reported that Syneos's management would run the merged company, although its leadership would include executives from Covance, which has changed its name to Labcorp Drug Development.
- Price Action: LH shares are up 3.23% at $296.15, SYNH shares are down 0.01% at $102.59 during the premarket session on the last check Friday.
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