Boston Scientific Corp. (BSX) announced an agreement on the terms of a recommended offer to acquire BTG plc (BTG.L), a company headquartered in the United Kingdom, which develops and commercializes products used in minimally-invasive procedures targeting cancer and vascular diseases, as well as acute care pharmaceuticals. The holders of BTG's common shares would receive cash consideration of 840 pence per share. The total cash consideration for 100% of BTG's equity is approximately 3.3 billion pounds, or $4.2 billion.
Boston Scientific expects the transaction to be two to three cents accretive to adjusted earnings per share in 2019, and increasingly accretive thereafter. On a GAAP basis, the transaction is expected to be dilutive in 2019, and less dilutive or increasingly accretive thereafter.
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