LabCorp merger triggers fundamental change under Sequenom convertibles

By Marisa Wong

Morgantown, W.Va., Sept. 7 – A fundamental change and a make-whole fundamental change have occurred under the indentures related to Sequenom, Inc.’s 5% convertible senior notes due 2017 and its 5% convertible exchange senior notes due 2018, according to a press release.

Laboratory Corp. of America Holdings’ direct wholly owned subsidiary, Savoy Acquisition Corp., completed its cash tender offer for all of Sequenom’s outstanding shares of common stock on Wednesday. The acceptance of the shares constitutes a fundamental change and a make-whole fundamental change under Sequenom’s convertible notes.

Sequenom is a San Diego-based life sciences company. Burlington, N.C.-based LabCorp develops diagnostic technologies.

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