Private equity firms TPG and Blackstone recently bid to acquire Hologic Inc. ( HOLX ) , valuing the U.S. medical technology company at over $16 billion.

Hologic ( HOLX ) is an American medical technology company primarily focused on women’s health. It sells medical devices for diagnostics, surgery, and imaging.

While Hologic ( HOLX ) rejected the initial nonbinding offer, citing sources, the Financial Times writes that the negotiations could resume.

Benzinga reached out to Hologic ( HOLX ) for comments.

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The proposed buyout valued Hologic ( HOLX ) between $16.3 billion and $16.7 billion, including debt, and would have priced shares at $70 to $72—well above the company’s closing price of $54.28 on Friday.

The FT report adds that if successful, the deal would have ranked among the largest leveraged buyouts of the year.

Despite the generous premium, Hologic ( HOLX ) declined the approach. Its stock has dropped about 24% this year, weighed down by U.S. tariffs and softening demand.

Hologic ( HOLX ) reported adjusted earnings of $1.03 per share for the second quarter of 2025, the same as last year, beating the consensus of $1.02. Sales decreased 1.2% year over year to $1.05 billion, beating the consensus of $1 billion.

Hologic ( HOLX ) lowered fiscal 2025 adjusted earnings per share guidance from $4.25-4.35 to $4.15-4.25 compared to consensus of $4.26, based on tariffs and geopolitical conditions.

The company reaffirmed sales guidance of $4.05 billion-$4.10 billion compared to the consensus of $4.08 billion.

Hologic ( HOLX ) expects third-quarter adjusted earnings of $1.04-1.07 per share versus consensus of $1.10 and sales of $1 billion-1.01 billion compared to the consensus of $1.03 billion.

The FT report noted that CEO MacMillan acknowledged in the company’s recent quarterly earnings call that the business had endured “a tumultuous few months from a macroeconomic and policy perspective.” Still, it emphasized that the firm is making progress.

Hologic ( HOLX ) has long been viewed as a possible takeover target. Activist investor Carl Icahn acquired a 12.5% stake in 2013, prompting the company to adopt a poison pill strategy. Icahn later secured two board seats and influenced leadership changes, including Steve MacMillan’s appointment as CEO.

Price Action: HOLX stock is up 15.1% at $62.48 at the last check Tuesday.

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