FTC clears $1.1B Corindus buyout by Siemens Healthineers

September 5, 2019 By Brad Perriello Leave a Comment

Corindus Vascular Robotics (NYSE:CVRS) said today that the U.S. Federal Trade Commission granted early termination of the waiting period on its $1.1 billion acquisition by Siemens Healthineers (NYSE:SI).

The all-cash deal for Waltham, Mass.-based Corindus, which is developing a robot-assisted device for vascular procedures, calls for the German conglomerate’s healthcare arm to pony up $4.28 per share. News of the buyout last month sent CVRS shares up 76.9% to the buying price; the stock closed yesterday at $4.26 apiece.

“The early termination of the waiting period under the [Hart-Scott-Rodino Antitrust Improvements Act] satisfies one of the conditions to the closing of the merger,” Corindus said in a regulatory filing, noting that other conditions must still be met. The transaction is slated to close during the fourth quarter.

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