Masimo's Stock Rallies On Report Of Looming Activist Campaign, Disclosure Of Spinoff Plan -- MarketWatch

MarketWatch · 03/25 10:46

Masimo Corp.'s stock (MASI) was up 12% in premarket trading on Monday after The Wall Street Journal reported that activist investor Politan Capital Management plans to nominate two more members to the patient-monitoring technology company's board. Politan Capital, which was launched by Quentin Koffey, already has two seats on the company's board. Late Friday, Masimo said it plans to spin off its consumer unit, which includes its Stork baby monitor and the Freedom smartwatch and band. Masimo said Joe Kiani is expected to remain chairman and chief executive of Masimo. He is expected to be named chairman of the spinoff company. "Masimo will seek to complete the separation as soon as feasible," the company said.

-Steve Gelsi

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March 25, 2024 06:46 ET (10:46 GMT)

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