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Quest

This article was originally published in The Gray Sheet

Executive Summary

Teterboro, New Jersey-based diagnostics manufacturer receives $95 mil. cash settlement for outstanding items in connection with the February 1999 acquisition of SmithKline Beecham Clinical Laboratories for $1.3 bil. (1"The Gray Sheet" Feb. 15, 1999, p. 27). The pact contained a provision for a cut in the purchase price "in the event that a review of the SBCL financial statements showed that the net assets acquired, as of the acquisition date, were below a prescribed level," Quest explains in release
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