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LabCorp Strategic Review Spurs Buyback, Dividend But No Deal

The logo for Labcorp on a specimen collection box.
Photographer: Smith Collection/Gado/Getty Images
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Laboratory Corp. of America Holdings announced a $2.5 billion buyback and said it will offer shareholders a dividend starting in the second quarter.

The moves follow the conclusion of the company’s review of its structure and capital allocation strategy, which began in March after pressure from activist Jana Partners. LabCorp said in a statement Thursday that it considered a wide range of options and held “extensive” talks with third parties but ultimately decided to keep the current structure.