Corning Pharmaceutical Services to go public with $1.3 bil. valuation and new name, Covance.
CORNING PHARMACEUTICAL SERVICES VALUED AT $1.33 BIL. AS COVANCE spin-off, according to the value attributed to shares in the new company designated for a corporate ESOP program. Of approximately 57 mil. common shares that will be issued in the new company, 900,000 are being issued to an employee ESOP program.
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