HeartWare International (NSDQ:HTWR) today backed out of its acquisition of Israeli replacement heart valve maker Valtech Cardio and settled a proxy war with activist investor Engaged Capital. “HeartWare’s decision last fall to acquire Valtech represented a unique opportunity to bring together 2 complementary portfolios for substantial, high-growth markets and create a broad technology pipeline for the treatment of […]
Prospects for proxy war heat up at HeartWare
HeartWare International (NSDQ:HTWR) is facing another potential proxy battle after a 2nd activist investor firm took out a stake in the implantable heart pump maker. Last month Engaged Capital, which owns about 1.3% of Framingham, Mass.-based HeartWare, said it’s prepared to launch a proxy war over the proposed acquisition of Israeli replacement heart valve maker Valtech Cardio. Engaged […]
Activist investor fights HeartWare’s $766m Valtech buy
Activist investor Engaged Capital, a recent backer of HeartWare International (NSDQ:HTWR), is trying to block the implantable heart pump maker’s $766 million buyout of Valtech Cardio. The deal for Valtech calls for an up-front payment of 4.4 million shares of HeartWare stock, plus potential milestones of 800,000 shares when Valtech’s Cardioband annuloplasty device wins CE Mark approval in […]
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