28th Feb 2019 18:01
LONDON (Alliance News) - BTG PLC on Thursday said a takeover offer by Bravo Bidco Ltd, a subsidiary of Boston Scientific Corp, was approved at the Court meeting and its own general meeting.
In November, US medical devices manufacturer agreed to acquire UK rival BTG for GBP3.3 billion. Under the terms of the acquisition agreement, Boston Scientific will pay 840 pence cash for each BTG share.
BTG shares closed 0.1% higher on Thursday at 833.00p each.
The acquisition has received merger control clearance in Germany, while the Taiwan Fair Trade Commission has terminated its investigation.
The FTSE 250 esoteric life sciences group said the transaction remains subject to the satisfaction or waiver of the remaining conditions, including the court's sanction.
BTG and Boston Scientific continue to anticipate that the acquisition will close around mid-2019.
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