SmithKline Beckman Corp. signed an agreement to...

SmithKline Beckman Corp. signed an agreement to acquire International Clinical Laboratories Inc. for about $400 million. ICL’s board has approved the merger agreement and recommended that its stock holders accept SmithKline’s tender offer of $37 for each outstanding common share. The offer by SmithKline of Philadelphia, which is conditioned on a majority of ICL’s common shares being tendered, is to expire at midnight EDT April 20. Nashville, Tenn.-based ICL runs 13 major clinical testing laboratories mainly in the South and West. It had sales of $205.5 million for fiscal 1987, up from $168.7 million the previous year.