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SoftBank Group Corp. (SFTBY)
- Reuters
Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 million
Labcorp will acquire all of the bankrupt firm's assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In February, Invitae filed for voluntary Chapter 11 protection in a U.S. bankruptcy court and said that it intended to pursue a sale process. Invitae's estimated assets were in the $500 million - $1 billion range, while its liabilities were in the $1 billion - $10 billion range, according to the bankruptcy filing.
- Reuters
Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 mln
Laboratory service provider Labcorp said on Wednesday it will acquire Softbank-backed Invitae Corp's assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic test maker filed for bankruptcy. Labcorp will acquire all of the bankrupt firm's assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In February, Invitae filed for voluntary Chapter 11 protection in a U.S. bankruptcy court and said that it intended to pursue a sale process.
- The Telegraph
World risks ‘tepid Twenties’ as debt levels and inflation soar, warns IMF
The world is at risk of a “sluggish and disappointing decade”, the head of the International Monetary Fund has warned, while urging vigilance to restore price stability and jumpstart economic growth.
