Bloomberg: Given Imaging Heads for Highest in Year After Fuji Talks Report
Shares of the Israeli maker of a capsule-sized camera for diagnosing digestive ailments climbed 8 percent to 75.38 shekels at 12:20 p.m. in Tel Aviv, poised for the highest close since July 2011. The shares earlier rose as much as 17 percent.
Fujinon, a unit of Fujifilm Holdings Corp. (4901), is in talks to buy Given Imaging at a valuation of $750 million, Calcalist reported, without saying how it obtained the information. Given Imaging rose 22 percent last week in the U.S., giving it a market value of $561.3 million, after saying it’s been approached about a possible takeover.
Given Imaging is exploring strategic options including a possible merger or sale and Barclays Plc is helping it in the process, the company said in a statement on Oct. 18. The board of the Yokneam-based company appointed a committee to oversee the process. Given Imaging is held indirectly by Israeli billionaire Nochi Dankner’s IDB Holding Corp.
A spokeswoman for IDB declined to comment on the Calcalist report. Messages left at Barclays’ Israel offices weren’t returned today…Read More>>
