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Investing.com -- Hologic Inc (NASDAQ:HOLX) stock soared 14% following a report from the Financial Times that private equity groups TPG and Blackstone (NYSE:BX) approached the company with a buyout offer exceeding $16 billion. Despite Hologic’s rejection of the nonbinding proposal, which included a valuation of $16.3bn to $16.7bn with debt, the market responded positively to the potential deal.
According to FT, citing sources close to the matter, the offer would price Hologic’s shares between $70 and $72, substantially above Friday’s closing price of $54.28. Investors appeared to react to the possibility of a renewed negotiation, as the proposed acquisition would stand as one of the largest leveraged buyouts this year.
The bid comes at a significant premium, suggesting strong confidence in Hologic’s value from the private equity firms. The company, known for its medical technology products, has not publicly commented on the specifics of the offer or the prospects of future discussions. However, the market movement indicates investor anticipation that Hologic may still engage in deal talks with TPG and Blackstone.
Despite the initial rejection, the approach by such prominent private equity players has shone a spotlight on Hologic, highlighting its attractiveness as a potential private investment. The news has brought considerable attention to the company’s stock, reflected in the substantial uptick during the trading session.
As the situation develops, shareholders and potential investors will be closely monitoring Hologic for any signs of further negotiation or other expressions of interest from the private equity sector. The company’s future moves in response to this proposal could significantly impact its market valuation and strategic direction.
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