Fuji mulls Given Imaging buying for up to $750M
Fujifilm Holdings is a chief suitor for Given Imaging, according to Israeli publication Calcalist.
On Oct. 17, Yoqneam, Israel-based Given Imaging announced it was evaluating a range of strategic options, including preliminary non-binding indications of interest received from a number of parties relating to a possible merger or sale.
Given Imaging stressed its intent to actively explore these and other alternatives, including a strategic alliance or additional acquisitions such as its recent acquisition of the assets of the Smart Pill.
On Oct. 21, the Calcalist reported that Fujifilm is the key negotiator for the acquisition with a price that reflects a $750 million market cap for Given Imaging.
Given Imaging’s board of directors has appointed an executive committee consisting of the chairman and two independent directors to oversee the process. The investment banking firm Barclays is assisting the company in the process.