Big week for Endologix
This article was originally published in The Gray Sheet
Executive Summary
The abdominal aortic aneurysm stent graft maker said Oct. 15 it is reviewing an unsolicited acquisition bid worth about $98 million, or $2.25 per share, from hedge fund Elliott Associates. Endologix said it will "make a determination and respond in due course." Two days later, the firm announced FDA approval of its PMA supplement for the Powerlink XL stent graft system, applicable for wider aortic necks that its currently available Powerlink product. The new graft is approved for proximal aortic necks measuring between 23 and 32 millimeters. Endologix's share price started the week at $1.33 and closed on Oct. 17 at $1.96
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