By Katherine Hamilton
Shares of Akoya Biosciences rose after the developer of medical imaging tools said it was considering a third party's bid instead of the previously announced buyout by Quanterix.
Akoya stock climbed 26%, to $1.34, midday Wednesday. It is still down 42% this year.
The Marlborough, Mass., company said it had received an unsolicited acquisition proposal on Tuesday offering to buy it in an all-cash deal. Under the terms of the proposed deal, each Akoya share would be exchanged for $1.40.
Earlier this year, Akoya agreed to merge with Quanterix, which offered to pay Akoya shareholders 38 cents for a share and 0.1461 shares of Quanterix common stock. Quanterix shares declined 4%, to $4.77, on Wednesday.
Akoya is reviewing and considering the new proposal. It said the deal could be considered a superior proposal, meaning it would be inconsistent with the company's fiduciary duties if Akoya didn't engage in discussions with the third party.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 21, 2025 14:45 ET (18:45 GMT)
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