FTC clears Boston Scientific's $4.2B acquisition
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Boston Scientific's Marlborough headquarters
Boston Scientific’s $4.2-billion acquisition of a British cancer and vascular disease firm BTG has been approved by the U.S. Federal Trade Commission, the Marlborough medical device manufacturer disclosed Wednesday.
In a U.S. Securities and Exchange Commission filing, the companies jointly announced the merger control clearance from the FTC.
In addition to U.S. regulators, trade officials in Spain and Australia have approved the deal. The acquisition could become effective Aug. 19 after a court hearing Aug. 15, according to the filing.
The approval comes after the FTC in February requested additional information and documents related to the merger.
The acquisition is the largest for Boston Scientific since 2015. The announcement came in November, shortly after the company announced a $150-million restructuring program to result in what it called a limited headcount reduction with new jobs in growth areas replacing cut jobs.
BTG shareholders approved the deal in late February.
Boston Scientific was required to divest its drug-loadable microsphere business to Varian Medical in California for $90 million to make way for the transaction.
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