News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Given Imaging Ltd. (GIVN)'s Disgruntled Shareholder Sells Stake And Cashes Out



12/13/2013 8:55:12 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) shareholder Discovery Equity Partners is not waiting for the closing of the sale of the company to Covidien plc (NYSE: COV), and has sold its entire 3.7% stake of 1.2 million shares. This is the private equity fund, which a few weeks ago sent a sharply worded letter to Given Imaging's board of directors, accusing it of bad management and failure to create value for shareholders. In the letter in early October, Discovery Group said that a sale to a strategic buyer could be expected to achieve a value of $26-30 per share.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES