Blackstone Inc. and TPG Inc. are in advanced negotiations to acquire medical device manufacturer Hologic Inc. in a transaction valued at over $17 billion, including debt, according to people familiar with the matter.
The private equity firms are reportedly discussing a price above $75 per share, with a potential announcement in the coming days. However, the sources, who requested anonymity as the talks are private, cautioned that a final agreement has not been reached and negotiations could still collapse.
Following the report, Hologic’s shares jumped approximately 6% in late trading. The stock had closed 2% higher at $69.85 in New York on Friday, giving the company a market capitalization of roughly $15.5 billion.
Representatives for Blackstone, TPG, and the Marlborough, Massachusetts-based Hologic all declined to comment. Bloomberg News previously reported last month that the firms had re-engaged with Hologic’s board.
Hologic specializes in women’s health, developing diagnostic solutions for breast and cervical cancer, as well as infectious diseases like COVID-19. If finalized, the acquisition would be one of the largest private equity takeovers globally this year.
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