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Aug. 8, 2012, 1:00 PMNuance (NUAN +6.5%) rallies after stating it has no plans to make a bid for clinical transcription rival M*Modal (MODL -1.6%), which is set to be purchased by JPMorgan's P-E arm for $14/share. The weak Q2 report delivered yesterday by M*Modal could be a reason why. M*Modal had previously disclosed it turned down a $17/share offer from a competitor widely believed to be Nuance, due to timing and antitrust worries. | Comment!
Aug. 7, 2012, 6:40 PM
Aug. 6, 2012, 5:16 PMNuance (NUAN +4.4%) falls slightly AH after announcing it will sell $600M worth of senior notes due 2020. Nuance, which has made plenty of acquisitions over its history, says it will use proceeds for "acquisitions and general corporate purpose. All signs indicate the company recently made a $17/share offer for M*Modal (MODL) that was rebuffed partly because of antitrust fears. Nuance had $1.4B in debt as of March 31. Earnings are due tomorrow. (earlier) | Comment!
Jul. 17, 2012, 2:03 PMM*Modal (MODL +3.2%), which has agreed to be sold to JPMorgan's P-E arm for $14/share, jumps after disclosing it received a $17/share offer from a competitor it refers to as "Party A," but turned it down due to uncertainty about timing and antitrust issues. There's a good chance the company is Nuance (NUAN -1%), which is already a giant in the clinical transcription space. M*Modal traded as high as $14.99, and is currently moving at $14.51. (previous) | Comment!
Jul. 3, 2012, 11:26 AMNuance (NUAN +2.2%) trades higher following the purchase of rival clinical transcription/voice recognition solutions provider M*Modal (MODL) by JPMorgan's P-E arm. Deutsche (Buy) notes the deal's valuation (2x estimated FY13 sales) is in-line with the that paid by Nuance for recent acquisitions, and thinks it's evidence P-E firms are "becoming more active" in the medical transcription and records space. | Comment!
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