Last week, reports circulated saying talks over a potential acquisition were ongoing, with an agreement between the two diabetes technology developers on the horizon in the coming weeks.
On the back of the Dexcom statement, DXCM shares were up 7% at $308.87 apiece as the market opened today. Conversely, PODD shares sank 11% to $209.65.
Bloomberg previously reported that people “with knowledge of the matter” confirmed ongoing talks. The outlet’s sources preferred to remain anonymous because the information is private and both companies declined to offer comment at the time. No potential financial figures related to any acquisition discussions were shared in the report.