Medtronic to Acquire HeartWare in $1.1B Deal

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Medtronic to Acquire HeartWare in $1.1B Deal

Intro of HeartWare press release:

“Medtronic plc (NYSE: MDT), the global leader in medical technology, and HeartWare International, Inc. (NASDAQ: HTWR), a leading innovator of less-invasive, miniaturized circulatory support technologies for the treatment of advanced heart failure, today announced that the companies have entered into a definitive merger agreement under which Medtronic will acquire HeartWare in a transaction valued at approximately $1.1 billion. Under the terms of the agreement, Medtronic will commence a tender offer for all outstanding shares of HeartWare common stock for $58.00 per share, in cash. The boards of directors of both Medtronic and HeartWare have unanimously approved the transaction. The acquisition is expected to close during Medtronic’s second fiscal quarter ending Oct. 28, 2016, subject to the satisfaction of customary closing conditions.”

Full release

Additional coverage:

  • BioFlash: Medtronic bids $1.1B to buy Framingham’s HeartWare More
  • MassDevice: Medtronic to put up $1.1B for HeartWare More
  • Wall Street Journal: Medtronic to Buy HeartWare for $1.1 Billion (subscr req) More
June 27th, 2016|

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