SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 1997
LabOne, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-15975 48-0952323
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(State or other jurisdiction (Commission (I. R. S. Employer
of incorporation File Number) Identification No.)
10310 W. 84th Terrace, Lenexa, KS 66214
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 913-888-1770
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Item 5. Other Events
LabOne, Inc. announced that discussions between LabOne and Seafield
Capital Corporation (Seafield), which owns 82 percent of LabOne, regarding a
possible merger between the two companies have been terminated. In February
1995, Seafield had announced that among the strategic alternatives which
Seafield expected to pursue was a merger of Seafield into LabOne. Following
the transfer of many of Seafield's assets to SLH Corporation and the
distribution of all SLH Corporation stock to Seafield's shareholders earlier
this year, Seafield and LabOne began discussing a possible merger. It was
also contemplated at the time initial merger discussions began that Seafield
would distribute its Response Oncology holdings to shareholders. Such
distribution is now expected to be effected in late July.
Following the distribution of SLH and Response shares to Seafield
shareholders, the remaining Seafield assets will consist only of approximately
$5 million in cash and 10,712,200 LabOne shares.
As the merger discussions proceeded, Seafield and LabOne were advised
that any combination of the two companies would result in the surviving entity
having a significant amount of additional annual amortization expense.
Seafield has concluded that the benefits of combining the two companies at
this time do not justify the additional amortization and the resulting adverse
impact on earnings. Accordingly, merger discussions between Seafield and
LabOne have been terminated.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
LabOne, Inc.
Date: July 3, 1997 By /s/ Kurt E. Gruenbacher
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Kurt E. Gruenbacher
V.P. Finance and Chief
Accounting Officer
Date: July 3, 1997 By /s/ Robert D. Thompson
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Robert D. Thompson
Executive Vice President,
COO, CFO and Treasurer
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