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Investing.com -- Hologic Inc (NASDAQ:HOLX) stock closed 7.7% higher after Bloomberg reported that Blackstone Inc. and TPG Inc. have renewed their interest in acquiring the medical device maker.
The investment firms have recently re-engaged with Hologic’s board about a potential takeover and are currently conducting due diligence, according to Bloomberg, citing people familiar with the matter. This renewed interest comes after the Financial Times reported in May that Blackstone and TPG had approached Hologic with an offer exceeding $16 billion, which was rejected at the time.
Hologic had a market capitalization of approximately $14.7 billion before this latest news emerged. Despite today’s significant gains, the company’s stock remains down 16.8% over the past 12 months.
Sources indicate that discussions are ongoing, though any potential deal is still weeks away and there’s no certainty the talks will result in a transaction. Neither Hologic nor the investment firms have publicly commented on the renewed takeover interest.
The medical device maker, known for its diagnostic, surgical and imaging products focused on women’s health, has become an attractive acquisition target amid its recent stock performance challenges.
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