Sam Brusco, Associate Editor05.31.22
Today, Dexcom issued a statement quashing rumors of a potential takeover of insulin pump maker Insulet. The rumors began last week following a Bloomberg report citing anonymous sources “with knowledge of the matter” shared a deal could be reached in the coming weeks.
At the time, the sources said discussions could still be delayed or fall through.
“Like many companies, Dexcom’s Board and management team regularly review opportunities to enhance stockholder value and create benefits for customers, including through mergers and acquisitions,” a company spokesperson told the press. “It is generally our policy not to comment on rumors or speculation, however, in light of recent sustained media and market speculation as well as the upcoming American Diabetes Association conference, we wish to confirm that Dexcom is not in active discussions regarding a merger transaction at this time. We do not intend to comment further on this topic and we assume no obligation to make any further announcement or disclosure should circumstances change.”
Dexcom shares rose about 9% in the premarket today after the continuous glucose monitor (CGM) maker dispelled rumors about the potential transaction. They had fallen sharply last week after Bloomberg’s report.
Insulet is currently trading at about 11% lower, after sharp gains made last week following the report.
At the time, the sources said discussions could still be delayed or fall through.
“Like many companies, Dexcom’s Board and management team regularly review opportunities to enhance stockholder value and create benefits for customers, including through mergers and acquisitions,” a company spokesperson told the press. “It is generally our policy not to comment on rumors or speculation, however, in light of recent sustained media and market speculation as well as the upcoming American Diabetes Association conference, we wish to confirm that Dexcom is not in active discussions regarding a merger transaction at this time. We do not intend to comment further on this topic and we assume no obligation to make any further announcement or disclosure should circumstances change.”
Dexcom shares rose about 9% in the premarket today after the continuous glucose monitor (CGM) maker dispelled rumors about the potential transaction. They had fallen sharply last week after Bloomberg’s report.
Insulet is currently trading at about 11% lower, after sharp gains made last week following the report.