BTG shareholders OK $4B Boston Scientific buyout

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Boston Scientific acquires BTGBTG (LON:BTG) said yesterday that its shareholders voted to approve a more than $4 billion buyout offer by Boston Scientific (NYSE:BSX) and affirmed that the deal is on track to close mid-year.

The British medical device maker said that some 95.4% of the shareholders affected by the tie-up voted for the deal, with 4.6% of those shares voting against. Overall, the votes to approve the merger amounted to 62.4% of total BTG shares and the votes against were 0.03%, BTG said.

Earlier this week Marlborough, Mass.-based Boston Scientific said it closed a $4.3 billion debt round it plans use to defray the cost of buying BTG.

The £8.40-per-share offer, worth about $4.24 billion (£3.3 billion), is slated to close in mid-2019. The purchase price is a 36.6% premium over BTG’s closing price the day before the Nov. 20 announcement and a 51.0% premium over the stock’s 90-day volume-weighted average price.

BTG’s largest division makes devices for oncology and vascular conditions; the company also makes overdose and antivenin drugs for snakebite.

The post BTG shareholders OK $4B Boston Scientific buyout appeared first on MassDevice.

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