Idexx Laboratories Corp. has reached a definitive agreementfor its previously announced acquisition of the clinicalchemistry business of VetTest S.A.
Under the agreement, the Westbrook, Maine, company willpurchase VetTest for $5 million in cash and 210,000 shares ofcommon stock (NASDAQ:IDXX). VetTest is entitled to receive upto an additional 81,000 shares of Idexx stock on achievementof certain performance targets. Shares of the developer ofdetection systems for animal health and quality assuranceapplications rose 25 cents to $24.75.
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