MADISON, N.J., Nov. 20 /PRNewswire-FirstCall/ -- Quest Diagnostics Incorporated (the "Company") (NYSE: DGX), the world's leading provider of diagnostic testing, information and services, announced today the final results for its previously announced cash tender offer (the "Tender Offer") to purchase any and all of its 5.125% Senior Notes due 2010 and any and all of its 7.50% Senior Notes due 2011 (collectively, the "Notes"). Additional terms and conditions of the Tender Offer are set forth in the offer to purchase dated November 12, 2009 and the related letter of transmittal. The settlement date for the Tender Offer will be today, November 20, 2009.
The table below identifies the principal amount of each series of Notes validly tendered and accepted for purchase by the Company.
Percentage of
Principal Amount
Title of Aggregate Principal Amount Outstanding
Series of Principal Amount Tendered and Tendered
CUSIP No. Securities Outstanding Accepted and Accepted
--------- ---------- ---------------- ---------------- ----------------
74834LAK6 5.125% $226,363,000 $60,829,000 26.87%
Senior Notes
due 2010
74834LAE0 7.50% $248,637,000 $89,369,000 35.94%
Senior Notes
due 2011
The Company retained BofA Merrill Lynch as Global Coordinator & Joint Lead Dealer Manager and Morgan Stanley, RBS and Wells Fargo Securities as Joint Lead Dealer Managers. Global Bondholder Services Corporation was retained to serve as the Depositary and to serve as the Information Agent for the Tender Offer.
For additional information regarding the terms of the Tender Offer, please contact: BofA Merrill Lynch at (888) 292-0070 (toll free) or (980) 388-4603 (collect).
About Quest Diagnostics
Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at www.QuestDiagnostics.com.
The statements in this press release which are not historical facts may be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, adverse results from pending or future government investigations, lawsuits or private actions, the competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners and other factors discussed in "Business," "Risk Factors," "Cautionary Factors that May Affect Future Results," "Legal Proceedings," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosures About Market Risk" in the Company's 2008 Annual Report on Form 10-K and "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Quantitative and Qualitative Disclosures About Market Risk" and "Risk Factors" in the Company's 2009 Quarterly Reports on Form 10-Q and other items throughout the Form 10-K and the Company's 2009 Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Media Contact: Kathleen Valentine, Investors, +1-973-520-2900, or Wendy Bost, Media, +1-973-520-2800, both for Quest Diagnostics Incorporated
SOURCE: Quest Diagnostics Incorporated
Web site: http://www.questdiagnostics.com/