Philips to acquire BioTelemetry

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By :  ,  Financial Analyst

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. 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

Related tags: Equities

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