Philips to acquire BioTelemetry

Philips, the Dutch technology group, has entered into an agreement to acquire the US specialist in digital health monitoring and management services, BioTelemetry, for 2.8 billion dollars.

Charts (6)

Philips, the Dutch technology group, has entered into an agreement to acquire the US specialist in digital health monitoring and management services, BioTelemetry, for 2.8 billion dollars. Philips said it would pay 72 dollars per share in cash, a 16.5% premium to the closing price on December 17. The transaction is expected to be completed by the first quarter of 2021.

From a chartist’s point of view, the stock price has completed its pullback towards a former declining trend line and may resume its up trend. The daily RSI (14) is holding above its horizontal support line near 44%. First support is set at 42.3. A break above 45.6 would open a path to see 48.4. Alternatively, a break below 42.3 would call for a down move towards 39.

Source: TradingView, GAIN Capital


More from Equities

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.