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

Zhanna Hapanovich/iStock via Getty Images

• 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.