Given Imaging halts sale review, investor may sell stake

TEL AVIV Tue Jan 15, 2013 3:10am EST

TEL AVIV Jan 15 (Reuters) - Given Imaging is no longer considering a sale or merger and will instead focus on its existing operating plan, as well as potential acquisitions and alliances, the camera-in-a-pill maker said on Tuesday.

The Israeli medical devices maker also said 45.5-percent-shareholder Discount Investment Corp planned to seek and consider a sale of its stake in one block.

There can be no assurance that any transaction will occur, Given Imaging added.

The company, which makes capsule endoscopy products, said in October it was evaluating a potential merger or sale after receiving expressions of interest from a range of parties. Other options under review included a strategic alliance or purchase of assets.

"After a thorough exploration, the executive committee of the board of directors ... concluded that the continued execution of the company's operating plan, supplemented by additional acquisitions and alliances, provides the best opportunity at this time to enhance value for all of the company's shareholders," the firm said in a statement. (Reporting by Tova Cohen; Editing by Mark Potter)

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