Masimo Corporation (NASDAQ:MASI) rallied more than 32% in U.S. premarket trading Tuesday following a report from the Financial Times that Danaher Corporation (NYSE:DHR) is nearing a deal worth almost $10 billion to acquire the medical technology group.
According to the newspaper, which cited sources familiar with the discussions, an agreement for the California-based company could be unveiled as soon as Tuesday.
Such a transaction would represent a premium to Masimo’s market capitalization of nearly $7 billion at Friday’s close.
Masimo is known for producing medical monitoring technologies, including pulse oximeters, and has previously accused Apple Inc. (NASDAQ:AAPL) of violating its intellectual property rights.
Danaher has built a reputation for sustained acquisition activity over the past 25 years, including its landmark $21.4 billion purchase of Cytiva in 2020.