Blackstone, TPG near Hologic deal for more than US$17 billion

The parties are currently discussing a price of above US$75 a share, according to sources

Blackstone and TPG are in advanced negotiations to acquire Hologic in a deal that could value the medical device maker at more than US$17 billion, including debt, according to sources familiar with the matter.

A transaction could be announced in the coming days, said the sources, who asked not to be identified because the talks are private. The parties are currently discussing a price of above US$75 a share, they said.

Hologic shares jumped about 6 per cent in late trading after Bloomberg reported on the discussions. They had closed 2 per cent higher at US$69.85 on Friday (Oct 17) in New York, giving the company a market value of about US$15.5 billion.

A final agreement has not been reached and the talks could still fall apart, the sources said.

Representatives of Blackstone and TPG declined to comment, as did a spokesperson for Marlborough, Massachusetts-based Hologic.

Bloomberg News reported last month that the private equity firms had reengaged with the company’s board.

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Hologic is focused on women’s health and develops diagnostic solutions for breast and cervical cancer, as well as infectious diseases such as Covid-19.

Any deal for the company could end up becoming one of the biggest private equity takeovers globally this year, according to data compiled by Bloomberg. BLOOMBERG