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Quest Diagnostics Incorporated
Quest Diagnostics Announces Offering of Common Stock by the Company's Largest Stockholder
February 20th, 2011
Quest Diagnostics Incorporated (NYSE: DGX) announced the underwritten public offering of 15,377,600 shares of Quest Diagnostics common stock held by its largest stockholder, SB Holdings Capital Inc., an affiliate of GlaxoSmithKline plc ("GSK"). After giving effect to the proposed offering and the company's repurchase from GSK of 15,377,551 shares of Quest Diagnostics common stock also announced, it is expected that GSK will no longer hold any shares of common stock of Quest Diagnostics.
Quest Diagnostics will not sell any shares of common stock in the offering and will not receive any of the proceeds from the sale of shares in the offering. Quest Diagnostics will pay all...
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Source: Investment Business Weekly (2011-02-20)