2023-05-10 16:23:34 ET
- Shockwave Medical ( NASDAQ: SWAV ) ticked up 1.3% amid speculation that the company is seeing additional takeover interest.
- The cardiovascular device maker is said be seeing takeover interest from Johnson & Johnson ( JNJ ) and Medtronic ( MDT ), according to a Street Insider report , which cited an unidentified source. It's not clear if either companies' interest will lead to a transaction.
- The latest update comes after Street Insider reported Monday that Boston Scientific ( BSX ) talks with Shockwave Medical talks had fallen apart. The recent reports follow after Bloomberg last month reported that Boston Scientific was said to be considering a takeover of Shockwave.
- Shockwave ( SWAV ) is said to be looking for an offer in the mid-$300s versus the current market price of $289, according to the Street Insider report. Boston Scientific ( BSX ) was said to have offered $275 per share with half the deal in cash and the other in stock.
- Shockwave ( SWAV ) told the publication the company doesn't comment on rumors or speculation.
- Shockwave ( SWAV ) on Monday reported Q1 results that beat on EPS and revenue.
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Shockwave Medical ticks higher amid takeover speculation