CML HealthCare to sell itself in C$1.22 billion deal

Tue Jun 25, 2013 6:22am EDT
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June 25 (Reuters) - Canadian medical diagnostic services provider CML HealthCare Inc said it would be bought by LifeLabs Medical Laboratory Services in a deal valued at C$1.22 billion ($1.16 billion), including debt.

LifeLabs, owned by Ontario Municipal Employees Retirement System (OMERS), will pay C$10.75 per share, representing a 49 percent premium to CML's closing price on Monday.

The offer price includes the assumption of $255 million of debt, CML said in a statement on Tuesday.