real-time news and commentary for investors
Monday, Aug 26
Merge Healthcare chairman resigns, shares rise
- Shares of Merge Healthcare (MRGE) rise 5.4% premarket.
- Chairman Michael Ferro, Jr. has resigned.
- MRGE says Dennis Brown is the new chairman, effective immediately.
- Ferro believes the company's "market position and long-term prospects" are not reflected in the current stock price despite MRGE's "very disappointing" Q2 results.
- Ferro also says that while he has no immediate plans, he intends to pursue "ways to increase shareholder value, including, possibly, a going-private transaction." (PR)