ENZO BIOCHEM INC: M&A transaction — Enzo Biochem closes clinical lab sale to Labcorp for $113.25M cash; exits lab business

ENZO BIOCHEM INC

Asset sale of Enzo Clinical Labs to Labcorp closed on July 24, 2023 for aggregate cash consideration of $113.25 million.
Enzo will cease all clinical laboratory operations and focus on its life sciences business.
Transaction was previously announced on March 16, 2023 and amended on July 3, 2023.
Jefferies and McDermott Will & Emery advised Enzo; Evercore and Hogan Lovells advised Labcorp.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ENZO BIOCHEM INC completed a disposition involving Laboratory Corporation of America Holdings for $113.25 million in cash (closed 2023-07-24).

Action: disposition
Counterparty: Laboratory Corporation of America Holdings
Consideration: $113.25 million in cash
Closing: 2023-07-24

Exact text from the filing

On July 24, 2023 (the “Closing Date”), pursuant to the terms of the Asset Purchase Agreement, as amended (the “Purchase Agreement”), by and among Enzo Biochem, Inc., a New York corporation (the “Company”), Enzo Clinical Labs, Inc., a New York corporation, and Laboratory Corporation of America Holdings, a Delaware corporation, the Company closed the sale of certain assets and assignment of certain liabilities of the Company’s clinical laboratory business (the “Asset Sale”) for $113.25 million in cash (the “Purchase Price”).

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Source: SEC EDGAR

accession 0001213900-23-059242

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