Copyright Investor's Business Daily
Hologic (HOLX) on Tuesday said it agreed to be acquired by Blackstone and TPG in a take-private deal that values the women's health tech company at up to $18.3 billion. The news comes as little surprise. There has been speculation since May and even more recent reports in September. Reports last week suggested Blackstone and TPG offered $16 billion for Hologic, but the company turned down the offer, Needham analyst Mike Matson said in a report. "The merger agreement does include a 45-day 'go-shop' period, though given our prior belief that bids would likely need to be in the high $70s to low $80s for a deal to get done (which this was), we see better relative upside opportunities elsewhere on our list," William Blair analyst Andrew Brackmann said in a client note. Blackstone and TPG agreed to pay a cash price of $76 per share of Hologic stock. The deal also includes a contingent value right worth up to $3 per share based on hitting breast health global revenue goals in fiscal year 2026 and 2027. In morning trades on today's stock market, Hologic stock jumped more than 3% to 74.26. Shares are trading well above their 50-day and 200-day moving averages, according to MarketSurge. Follow Allison Gatlin on X/Twitter at @AGatlin_IBD. YOU MAY ALSO LIKE: Stock Of The Day: Why IBD 50's Guardant Health Has Rallied 31% In A Month Top 1% Celcuity Stock Shoots To Record High On Roche-Rivaling Breast Cancer Results Follow Premarket And After-The-Open Action With IBD Experts Looking For The Next Big Stock Market Winners? Start With These 3 Steps
