U.S. trade regulators to examine Boston Scientific's $4.2B buy
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Boston Scientific is headquartered in Marlborough.
U.S. trade regulators want a closer look at Marlborough medical device firm Boston Scientific's proposed $4.2-billion acquisition of BTG, a U.K. cancer and vascular disease device firm.
In a filing with the U.S. Securities & Exchange Commission, Boston Scientific said the U.S. Federal Trade Commission have sent a request for additional information and documentary material relating to the transaction.
The inquiry, called a Second Request as part of the process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, seeks more information on the therapeutic beads businesses of both companies.
The review will extend the waiting period until 30 days after both companies comply with the request.
In a joint statement, Boston Scientific and BTG said they intend to respond to the FTC’s request as quickly as possible.
The transaction has already received clearance in Germany and Taiwan.
BTG shareholders still need to approve the transaction at a shareholder meeting on Feb. 28.
The transaction is still anticipated to close around the middle of the year.
The acquisition is the largest for Boston Scientific since 2015. The announcement came in November, shortly after the company announced a $150-million restructuring program to result in what it called a limited headcount reduction with new jobs in growth areas replacing cut jobs.
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