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Investing.com -- Quipt Home Medical Corp (TSX:QIPT) stock surged 22% in Toronto trade Monday after Forager Capital Management announced an all-cash acquisition proposal for the company at $3.10 per share.
The offer from Forager, which currently owns a 9.7% stake in Quipt, represents a substantial 120% premium to the company’s unaffected share price of $1.41 at the close on May 19, 2025. This price was recorded the trading day before Forager’s previous proposal became public.
Forager stated that its proposal is not contingent on any due diligence or financing conditions and can be executed immediately. The investment firm also indicated willingness to improve its offer if Quipt’s board engages in "constructive discussions."
The acquisition proposal includes a go-shop provision that would permit Quipt’s board to actively seek superior offers following the execution of definitive agreements. Forager emphasized that its current proposal provides "immediate and certain value" to all Quipt shareholders.
Quipt Home Medical specializes in providing in-home medical equipment and services across the United States. The company has not yet issued a public response to Forager’s acquisition proposal, and has not yet responded to Investing.com’s request for comment.