Penumbra is said to explore deal with Shockwave Medical (update)

Jan. 08, 2022 10:15 PM ETShockWave Medical, Inc. (SWAV), PENBy: Joshua Fineman, SA News Editor

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  • Update 9am: Updates to say Penumbra said it's not in talks with Shockwave.
  • Penumbra (NYSE:PEN) is said to be exploring a potential deal with Shockwave Medical (NASDAQ:SWAV).
  • Penumbra (PEN) has held discussions with Shockwave (SWAV) about a possible combination, according to a Bloomberg report.
  • The news comes after a Bloomberg report yesterday that Shockwave Medical had received interest about a potential takeover. Shockwave shares gained 17% in after hours trading on Friday on news of the potential interest.
  • “Penumbra is not in discussions with Shockwave Medical to pursue a business combination or similar transaction,” Penumbra said in an emailed statement Sunday to Bloomberg.
  • The report comes ahead of next week's annual JPMorgan Healthcare Conference, which often has deal announcements associated with the event. Penumbra is scheduled to present at conference on Tuesday.
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