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EXCLUSIVE-LabCorp explores acquisition of clinical trials firm PPD -sources
February 3, 2017 / 9:54 PM / 9 months ago

EXCLUSIVE-LabCorp explores acquisition of clinical trials firm PPD -sources

Feb 2 (Reuters) - Laboratory Corporation of America Holdings (LabCorp) was in talks to acquire contract researcher Pharmaceutical Product Development LLC (PPD) for more than $8 billion, including debt, people familiar with the matter said on Friday.

LabCorp was just one of the parties participating in an auction for private equity-owned PPD, which has also attracted interest from buyout firms, the people said. There was no certainty that LabCorp would clinch a deal, they added.

The sources asked not to be identified because the deliberations were confidential. LabCorp and PPD did not immediately respond to requests for comment. PPD’s owners, Carlyle Group LP and Hellman & Friedman LLC, declined to comment. (Reporting by Carl O‘Donnell and Greg Roumeliotis in New York; Editing by Jonathan Oatis)

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