LabCorp Acquires Covance Inc. for $6.1B In Cash And Stock Deal

Laboratory Corp. of America Holdings (NYSE:LH) announced on November 3, 2014 that it has entered into a stock and cash agreement with Covance Inc. (NYSE:CVD) totaling up to about $6.1 Billion.  Laboratory Corp specializes in testing services such as patient monitoring, diagnosis, treatment, etc.  Covance focuses on lab testing and drug development for industries such as chemical, agrochemical and food. Laboratory Corp. sales increase but EPS decrease Health care stocks, in general, have been some of the top performing stocks since the recovery began.  The health care sector is up 11.27% year to date, but the medical devices industry has overall lagged…