BURLINGTON, N.C. – The Federal Trade Commission on Wednesday dropped its objection to LabCorp’s purchase of Westcliff Medical Laboratories, according to Legal Times.

LabCorp (NYSE: LH) has agreed to pay $57.5 million for Westcliff.

The FTC had objected to the deal, saying it would result in higher prices for clinical lab testing in southern California.

According to Legal Times, the FTC dropped its stand after losing a court fight.

For details, read here.

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