Boston Scientific Wins FTC OK for Guidant
From the Associated Press
Boston Scientific Corp. won antitrust clearance from the Federal Trade Commission to acquire medical devices maker Guidant Corp., a $27-billion deal that the companies hope to conclude today.
To satisfy concerns that the combined company could command too great a share of the market for heart stents, Natick, Mass.-based Boston Scientific agreed before the regulatory reviews to sell a piece of Guidant’s business to Abbott Laboratories Inc. The North Chicago, Ill.-based company will pay $4.1 billion in cash, provide a $900-million loan to Boston Scientific and acquire $1.4 billion in Boston Scientific stock -- a stake it is required to sell within 30 months.
