Hologic clears key hurdles in proposed $18B sale to private equity

Hologic recently cleared multiple key hurdles in a proposed deal to sell the publicly traded breast imaging vendor to private equity for $18.3 billion. 

On Feb. 5, the Marlborough, Massachusetts-based company held a special meeting of its stockholders, giving them a chance to weigh in on the matter. They voted overwhelmingly in favor of the deal, with nearly 179 million shares in favor versus 151,000 against, according to a filing with the U.S. Securities and Exchange Commission. 

In the regulatory notice, Hologic reiterated its hopes of closing the transaction by April, with new owners TPG and Blackstone planning to take the company private. 

Meanwhile, Chinese regulatory authorities also have greenlit the deal, according to a list of regulatory approvals posted Tuesday. Hologic has both manufacturing operations and a partnership with the republic, Reuters noted. However, the State Administration for Market Regulation did not disclose whether the approval was for the acquisition of specific China-based Hologic units. 

Hologic shareholders had previously filed a lawsuit aiming to block the transaction from moving forward, claiming the vendor had failed to disclose key information about the agreement.

“Although the outcome … cannot be predicted, the company believes that the allegations contained in these matters are without merit,” Hologic said in a Jan. 26 SEC filing disclosing details about the lawsuit.