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Boston Scientific’s (NYSE:BSX) planned merger with Axonics (NASDAQ:AXNX) is now expected to close in the second half of the year after the companies received a request from the U.S. Federal Trade Commission (FTC) for additional information pertaining to the deal.
The issuance of the second request extends the waiting period under the HSR Act until 30 days after both companies have complied.
The companies will continue to work cooperatively with the FTC and expect to promptly respond to the request.
Boston Scientific (BSX) agreed to acquire the med-tech firm for $71 per share in cash in January. The ~$3.7B deal was previously expected to be complete in the first half of 2024.
Shares of Axonics (AXNX) were down 3.4% premarket