Given Imaging has a market cap of $561 million. The company, run by president and CEO Homi Shamir, develops, manufactures, and sells endoscopic capsules, the PillCam, for diagnosis of the small and large intestine.
On Thursday, Given Imaging announced, "In order to maximize growth and enhance shareholder value the company is currently evaluating a range of strategic options, including preliminary non-binding indications of interest received from a number of parties relating to a possible merger or sale of the company."
A possible reason for the sale is IDB's cash flow problems and Dankner's search for cash.
Given Imaging's share price rose 8.9% in morning trading on the TASE today to NIS 76.01, despite falling 0.2% on Nasdaq on Friday to $18.15.
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