(Reuters) -Medical equipment maker Hologic rejected an up to $16.7 billion non-binding offer from private equity firms TPG and Blackstone, the Financial Times reported on Tuesday, citing people familiar with the matter.
Shares of Hologic were up 15.1% in afternoon trading.
While Hologic declined the offer, there is still a chance that the deal talks could be revived, the report added.
The proposal, which could become one of the biggest leveraged buyouts of the year, would value Hologic’s shares between $70 and $72, an around 30% premium to Friday’s close of $54.28.
Earlier this month, the Marlborough, Massachusetts-based company lowered its fiscal 2025 profit forecast, citing uncertainty around the tariffs imposed by U.S. President Donald Trump’s administration.
It had also warned that the demand for gantry placements, medical equipment used in medical imaging and radiation therapy, would be lower in 2025.
TPG declined to comment, while Hologic and Blackstone did not immediately respond to Reuters’ requests for comment.
(Reporting by Puyaan Singh in Bengaluru; Editing by Mohammed Safi Shamsi and Alan Barona)
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