Medical-apparel maker Figs rejected a takeover offer from private-equity firm Story3 Capital Partners that valued the company at more than $1 billion. Figs said in a Securities and Exchange Commission filing that it’s confident in its standalone plan and prospects, resulting in its decision to reject Story3’s offer. The company’s board informed Story3 of the decision in a letter. Figs is a direct-to-consumer healthcare-apparel maker known for its scrubs. The business was started in 2013 and later went public in 2021, commanding a valuation of more than $4.5 billion at the time.
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Source: https://www.wsj.com/finance/investing/medical-apparel-maker-figs-turns-down-private-equity-acquisition-offer-e3d07edb