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Quest Diagnostics Announces Completion of Final Extension of the Subsequent Offering Period and Intent to Exercise Top-Up Option and Complete Merger
Date:5/11/2011

MADISON, N.J., May 11, 2011 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic testing, information and services, and Spark Acquisition Corporation, its wholly owned subsidiary ("Spark"), announced today the completion of the final extension of the subsequent offering period with respect to Spark's cash tender offer for all outstanding shares of common stock of Celera Corporation (NASDAQ: CRA).  The final extension of the subsequent offering period for the tender offer expired at 5:00 p.m., New York City time, on Tuesday, May 10, 2011.  Computershare Trust Company, N.A., the depositary for the tender offer, has indicated that 1,492,309 shares of common stock of Celera had been tendered during the final extension of the subsequent offering period and Spark has accepted for payment all tendered shares.  Spark now owns approximately 53,215,043 shares of common stock of Celera, representing approximately 64.02% of Celera's outstanding shares of common stock and 61.01% of Celera's outstanding shares of common stock on a fully diluted basis (as determined pursuant to the merger agreement).

Quest Diagnostics also announced that, following receipt by the depositary for the tender offer of the requisite documents in respect of the Celera shares of common stock that were tendered in accordance with the guaranteed delivery procedures, Spark intends to exercise its option under the merger agreement (the "top-up option") to purchase directly from Celera an additional number of shares sufficient to give it ownership of one share more than 90% of Celera's outstanding shares when combined with the shares it purchased in the tender offer, and purchase additional shares from Celera at a purchase price of $8.00 per share (payable in a combination of cash and a promissory note), which together with the shares purchased in the tend
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SOURCE Quest Diagnostics Incorporated
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