Shearman & Sterling is representing Quest Diagnostics Incorporated, the world’s leading provider of diagnostic testing, information and services, in its definitive agreement to acquire Celera, one of the world’s pioneers in genetic diagnostics discovery and development. The aggregate purchase price for the Celera shares is approximately $671 million, with the transaction being valued at approximately $344 million, after taking into account Celera’s $327 million in cash and short-term investments.

The Shearman & Sterling team was led by partner Clare O’Brien (New York-Mergers & Acquisitions) and associate Jessica Nielsen (New York-Mergers & Acquisitions) and included partners Laurence Bambino (New York-Tax) and Doreen Lilienfeld (New York-Executive Compensation & Employee Benefits) and associates Nadir Nurmohamed (New York-Mergers & Acquisitions), Meghan Moore (New York-Mergers & Acquisitions), Amy Lewis (New York-Tax) and Sean McGrath (New York-Executive Compensation & Employee Benefits).