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Merge requests revised offers from Thoma Bravo, THL, Francisco

6 Dec 2012

Nasdaq-listed medical imaging software group Merge Healthcare has reportedly requested revised takeover offers from the private equity firms that still remain in the auction to buy the business.

The Chicago-based company is understood to have asked Thoma Bravo, Thomas H Lee Partners and Francisco Partners to resubmit final bids by November 29, Reuters reported.

The request was seen by some as a sign that the sale has lost momentum, and the company could struggle to achieve a bid that meets its price expectations, the report said.

Merge’s stock closed at $2.82 on Wednesday, giving the company a market value of about $262m.

The company, which hired Allen & Co in September to evaluate strategic alternatives including a possible sale, reported a third-quarter net loss per diluted share of four cents last week – four times the loss it posted in the third quarter of 2011.

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