NUVA - Nuvasive/Globus Medical deal spread widens amid report FTC considering lawsuit

2023-07-20 15:34:31 ET

The deal spread in Globus Medical's ( NYSE: GMED ) planned takeover of Nuvasive ( NASDAQ: NUVA ) widened slightly amid a report that the Federal Trade Commission is evaluating a path toward a potential lawsuit to challenge the deal. The spread widened to $3.31 from $2.87 on Wednesday.

The FTC has the deal on its radar for a possible lawsuit, according to traders, who cited a Capitol Forum story circulating on Thursday that mentions the deal as part of a larger piece about antitrust probes.

The report comes after medical device makers NuVasive ( NUVA ) and Globus Medical ( GMED ) announced an agreement in February to combine in an all-stock transaction, a deal that valued Nuvasive at about $3 billion at the time.

Globus Medical ( GMED ) is scheduled to report Q2 results on Aug. 3.

More on Nuvasive/Globus Medical

• NuVasive: Critical Factors Unchanged, Reiterate Hold
• NuVasive merger with Globus Medical approved by shareholders
• Globus Medical rises as Canaccord upgrades despite M&A uncertainty

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