New Jersey-based Quest Diagnostics (NYSE: DGX) is buying out the shares held by its largest shareholder – GlaxoSmithKline (NYSE: GSK).

Quest didn’t disclose the price it would pay for the 15.4 million shares held by SB Holdings Capital, a GSK affiliate. The total represents some 9 percent of Quest stock.

Separately, the Wall Street Journal reported that GSK would sell another 15.4 million shares in Quest through a public offering.

Quest shares closed Monday at $56.95.

GSK maintains its U.S. headquarters in RTP.

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