Boston Scientific will acquire British healthcare company BTG for $4.2 billion.
Here's what you should know:
1. BTG is a multifaceted healthcare company, specializing in interventional medicine and pharmaceuticals.
2. If the transaction is approved, Boston Scientific will wholly own BTG.
3. The transaction could close in the first half of 2019, subject to the customary approval process.
4. Boston Scientific Chairman and CEO Mike Mahoney said, "The acquisition of BTG and its rapidly growing peripheral interventional portfolio is an exciting extension of our category leadership strategy that will augment our capabilities in important areas of unmet need such as cancer and pulmonary embolism."
5. Boston Scientific received irrevocable undertakings from BTG's three largest shareholders in favor of the deal. They make up 33 percent of BTG's outstanding shares.
6. Boston Scientific shares opened down on the news, dropping 5.98 percent at market open.