TPG and Blackstone Inc (NYSE:BX), two private equity firms, have made a non-binding offer of more than $16 billion to take medical equipment-maker Hologic Inc (NASDAQ:HOLX) private, according to a media report from the Financial Times.
Citing people with knowledge of the matter, the publication said Massachusetts-based Hologic has rejected the offer.
The offer would have valued the group at $16.3 billion to $16.7 billion, including debt, the sources said.
It prices Hologic’s shares at between $70 and $72, a premium to its closing price on Friday of about $54.
Despite rejecting the deal, sources said there was a possibility that deal talks could resume.
Shares of Hologic surged on the news, adding 13% at about $61 on Tuesday afternoon.
Neither Hologic, TPG nor Blackstone have publicly commented on the offer or its rejection.