U.S.-based medical device company Boston Scientific Corp is planning to pay 3.3 billion pounds (about $4 billion) in cash for UK-based specialist healthcare company BTG Plc.
Under the terms of the deal, Boston Scientific will pay $10.8 per share, resulting in a premium of 36.6 percent to BTG’s previous closing price. BTG considered the terms of the offer to be fair and reasonable and aims to recommend the deal to shareholders.
Boston Scientific’s acquisition of BTG Plc will boost its adjusted earnings by 2 to 3 cents a share in 2019 and would be increasingly accretive thereafter and also add technology to fight cancer and other serious diseases to its portfolio.
On the deal, Boston Scientific was advised by UK-based financial services company Barclays, while BTG was advised by Goldman Sachs, J.P. Morgan and Rothschild.