Penumbra Inc PEN is exploring a potential deal with Shockwave Medical Inc SWAV, Bloomberg reported citing people with knowledge of the matter.
- According to the people, Penumbra has held talks with Shockwave Medical about a potential tie-up.
- Shares of Shockwave Medical have soared nearly 900% since the company went public in 2019, giving it a market value of almost $6 billion.
- Penumbra was valued at about $9.5 billion.
- But Penumbra said in an emailed statement Sunday that it is not in discussions with Shockwave Medical to pursue a business combination or similar transaction.
- Price Action: PEN shares closed at $254.50 on Friday. SWAV shares are up 6.51% at $180.03 during the premarket session on the last check Monday.
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