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Boston Scientific clears antitrust hurdles

Medical device maker Boston Scientific Corp. said Wednesday it has reached agreement with the staff of the Federal Trade Commission to resolve all antitrust issues related to its proposed $27 billion acquisition of Guidant Corp.  
/ Source: Reuters

Medical device maker Boston Scientific Corp. said Wednesday it has reached agreement with the staff of the Federal Trade Commission to resolve all antitrust issues related to its proposed $27 billion acquisition of Guidant Corp.

The agreement is subject to final review and approval by the FTC commissioners, the company said.

Boston Scientific said it expects the deal to close in mid-April after receiving antitrust approvals in the United States and Europe.

The company said it expects review by European Commission to conclude no later than April 18.

Shareholders of both Guidant and Boston Scientific approved the deal at meetings held on March 31.

Natick, Massachusetts-based Boston Scientific said that on or around April 7 it will withdraw and refile its notification under the Hart-Scott-Rodino Antitrust Improvements Act in connection with the acquisition.

The company characterized the refiling as a procedural step that is being taken to ensure that the FTC has enough time to review the documents.