LabCorp (NYSE: LH) said Friday it will proceed with the acquisition of California-based Monogram Biosciences (Nasdaq: MGRM) after the federal government expressed no objection to the deal.
The waiting period as required by U.S. antitrust legislation expired with no action from either the Federal Trade Commission or the Department of Justice, LabCorp said in statement.
LabCorp is buying Monogram for $4.55 a share, or around $106 million. The companies announced their deal in June.
Monogram focuses on treatments and testing for infectious diseases, including HIV, cancer and other ailments.