PODD - DexCom gains after rejecting market rumors on M&A deal; Insulet drops

DexCom (NASDAQ:DXCM) shares surged in the pre-market Tuesday after the medical equipment maker said it was not in active discussions for a merger transaction at the moment. Issuing a statement in response to recent media reports and speculation as well as the upcoming American Diabetes Association conference, DexCom said: “We wish to confirm that Dexcom is not in active discussions regarding a merger transaction at this time.” “We do not intend to comment further on this topic and we assume no obligation to make any further announcement or disclosure should circumstances change,” the company added. DexCom fell sharply last Tuesday after Bloomberg reported that the company was in talks with Insulet (PODD) to acquire the insulin pump maker. Insulet (PODD) is trading ~11% lower currently following sharp gains made last week on the news.

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DexCom gains after rejecting market rumors on M&A deal; Insulet drops