Boston Scientific's BTG Acquisition Gains Approval From US Regulator

(Alliance News) - FTSE 250-listed healthcare firm BTG PLC said Wednesday that its proposed GBP3.3 ...

Alliance News 7 August, 2019 | 10:01AM
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(Alliance News) - FTSE 250-listed healthcare firm BTG PLC said Wednesday that its proposed GBP3.3 billion acquisition by Boston Scientific Corp has received merger control clearance from the US Federal Trade Commission.

The announcement follows clearances for the deal from other antitrust authorities, including the Federal Competition Authority of Austria on Friday last week, and from the National Authority for Markets and Competition in Spain in late July.

In November, US medical devices manufacturer Boson Scientific agreed to acquire BTG for 840 pence cash via its acquisition vehicle Bravo Bidco Ltd for each BTG share.

The acquisition is now conditional on receiving a court sanction, at a hearing expected to take place on Thursday next week. Should sanction be granted, the acquisition will become effective on August 19, with BTG's shares to be cancelled the day after.

Shares in BTG were up 0.2% at 839.50 pence on Wednesday.

By Dayo Laniyan;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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