Munger Mode rating: 3 out of 5 — Hold. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Charlie and I have spent considerable time examining Hologic, a women's health-focused medical technology company with a $16.8 billion market capitalization. The business possesses several qualities we admire — a razor-and-razorblade revenue model, high recurring consumable sales, and dominant positions in breast imaging and molecular diagnostics. However, the most material fact confronting any prospective investor today is this: Hologic has agreed to be taken private by Blackstone and TPG for $76 per share in cash, plus a contingent value right of up to $3 per share. Shareholders overwhelmingly approved this merger on February 5, 2026, and the transaction is expected to close in March or April 2026. With shares trading at approximately $74.91, the remaining upside is the narrow merger arbitrage spread — roughly $1.09 to the base price and up to $4.09 if the CVR pays in full.
Recent filings analysed: 8-K (2026-04-07), 8-K (2026-04-06), 10-Q (2026-01-29), 10-K/A (2026-01-22).
Stock screener · Superinvestor 13F holdings · Analyst sentiment · Market valuation