Boston Scientific has entered into an agreement containing consent orders with the staff of the Federal Trade Commission (FTC) relating to its proposed combination with Guidant. While the agreement is subject to final review and approval by the FTC Commissioners, its execution resolves all outstanding antitrust issues with the FTC staff relating to the proposed Guidant transaction.
Boston Scientific also announced that it will voluntarily withdraw and re-file its notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the Guidant transaction. The re-filing is a procedural step that is being taken to ensure that the FTC Commissioners have adequate time to review the executed consent decree.
Boston Scientific expects to close the transaction around the middle of April. Boston Scientific and Guidant shareholders each voted overwhelmingly to approve the combination at separate special meetings held recently.