Summary
Boston Scientific Corporation (BSX) filed an 8-K on March 1, 2019, to disclose a significant development in its previously announced acquisition of BTG plc. The key information for investors is that BTG shareholders have provided the requisite approvals for the recommended cash offer made by Bravo Bidco Limited, an indirect wholly-owned subsidiary of Boston Scientific. This marks a crucial step towards the completion of the acquisition. The filing references an RNS announcement from BTG plc dated February 28, 2019, as Exhibit 99.1, which contains the details of the shareholder approval. While this 8-K primarily serves to report this milestone, investors should note that the acquisition is being implemented through a court-sanctioned scheme of arrangement in the UK, and the definitive terms and conditions are outlined in a Scheme Document previously sent to BTG shareholders.
Key Highlights
- 1BTG plc shareholders have approved Boston Scientific's recommended cash offer to acquire the company.
- 2The approval is a significant step towards the completion of the acquisition of BTG plc by Boston Scientific.
- 3The acquisition is being carried out by Bravo Bidco Limited, an indirect wholly-owned subsidiary of Boston Scientific.
- 4The filing incorporates by reference an RNS announcement from BTG plc dated February 28, 2019, detailing the shareholder approval.
- 5The acquisition will be implemented via a court-sanctioned scheme of arrangement under UK law.
- 6Investors should refer to the Scheme Document for full details and terms of the acquisition.