LabCorp Launches Review Following Moves by Activist Jana
Photographer: Andrew Harrer/Bloomberg
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Laboratory Corp. of America Holdings, which has been pressed by an activist investor to make changes, said its board would launch a review of the company’s strategy because it believed its stock is undervalued.
The lab-testing company has faced questions about the durability of its Covid-19 screening business and whether it should spin off its drug-development unit, Covance. LabCorp has hired Goldman Sachs Group Inc. as its financial adviser, it said in a statement on Tuesday.