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Quest Diagnostics calls all $250 million 1¾% contingent convertibles
By Caroline Salls
Pittsburgh, Dec. 15 - Quest Diagnostics Inc. said it will redeem all its $250 million outstanding 1¾% contingent convertible debentures due 2021 at par plus accrued interest.
Holders may convert their debentures into shares of Quest common stock at a conversion price of $87.50 per share.
If all the debentures are converted, the company will issue 2.9 million shares.
Quest stock was at $94.48 Wednesday afternoon.
Quest Diagnostics is a Teterboro, N.J., provider of diagnostic testing, information and services.
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