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BTG receives offer from Boston Scientific

BTG receives offer from Boston Scientific

Pharma group BTG (BTG) is finally back on track, sealed with a solid set of half year numbers last week. But just seven days on from the interim release, the group has revealed a £3.3bn takeover offer from Bravo Bidco, a newly incorporated entity, wholly owned by New-York-listed medical solutions group Boston Scientific (US:BSX). The 840p-a-share offer represents a premium of 36.6 per cent to the closing price on 19 November and a 51 per cent premium to the 90-day moving average. The board will unanimously recommend the offer at a general meeting, and a full timetable of the scheme will be circulated to shareholders in due course, but bosses have already received irrevocable undertakings from BTG shareholders who hold roughly a third of the share capital in aggregate. 

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