Penumbra Weighs Combination With Shockwave Medical: Bloomberg

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.