Guidant Acquisition by Boston Scientific Approved by FTC
The AP reports that the merger of Boston Scientific and Guidant has been cleared by the Federal Trade Commission (FTC), following approval by the European Union earlier this month. Boston Scientific had agreed to divest some Guidant assets such has its drug-coated stents to Abbott Labs in a $5 billion deal. Still, after this acquisition it is set to become the larget manufacturer of cardiovascular devices worldwide, followed by Medtronic and St. Jude Medical. The three companies corner the US market for implantable defibrillator market with a combined 98 percent market share.
April 20, 2006 Related topics: Mergers & Acquisitions