Given Imaging Ltd. (GIVN) should buy back $50 million of shares and make another effort to find a buyer, according to an investor who said the medical-device maker has been mismanaged. Given Imaging failed to execute its business strategy, causing management to lose credibility and hurting the stock price, Discovery Group, which owns about 4 percent of Given Imaging, said in a letter to the board made public today. A spokeswoman for the Yokneam, Israel-based company, which has a market value of about $611 million, didn’t immediately reply to a telephone request for comment.
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