Diagnostic Firm Hologic Fights Back against Hostile Takeover

Hologic Inc. (Bedford, MA), a diagnostic and medical imaging equipment specialist, is defending itself against a hostile takeover from activist investor Carl Icahn, who know owns a 12.63% stake in the firm. Icahn recently announced his plans "to have conversations" with Hologic's executives to improve the company's stock value. In the past, Icahn has made similar announcements following gaining a large stake in firms, which served as a sort of omen that Icahn plans to attempt to force major management changes. In reaction, Hologic has enacted a "poison pill" strategy designed to prevent a hostile takeover.Another activist shareholder, Jana Partners LLC has also bought shares of the firm. Earlier this year, Smith & Nephew won a $4-million dollar suit against Hologic. In addition, Hologic, announced in January its plans to shutter its Indianapolis manufacturing facility, laying off 141 of its employees in the process.