H.I.G. Ups Offer for Matrixx Initiatives

Private equity firm H.I.G Capital has raised its purchase price for shares of healthcare company Matrixx Initiatives by 9.4% to $8.75 per share, Reuters reported. The firm previously offered $8 per share. Miami-based H.I.G. Capital has more than $8.5 billion of equity capital under management.

(Reuters) – Private equity firm H.I.G Capital LLC said on Wednesday it has increased the purchase price for shares of healthcare company Matrixx Initiatives Inc by 9.4 percent and extended the tender offer to Feb. 14.

The private equity firm increased the offer to $8.75 per share from its previous offer of $8 per share.

H.I.G. also said it has been informed by certain stockholders representing about 18.1 pct of Matrixx’s outstanding shares that they intend to tender their shares into the revised offer.

Miami-based H.I.G. Capital has more than $8.5 billion of equity capital under management. (Reporting by Sakthi Prasad in Bangalore; Editing by Muralikumar