Thoratec (NSDQ:THOR) said its shareholders approved St. Jude Medical‘s (NYSE:STJ) $3.4 billion buyout offer yesterday, setting the stage for the deal to close today.
In August, U.S. anti-trust regulators cleared the deal, in which Pleasanton, Calif.-based Thoratec’s stockowners are due to receive $63.50 in cash for each THOR share.
Little Canada, Minn.-based St. Jude took out a 5-year, $2.6 billion loan from Bank of America to fund the acquisition, earmarking $2.1 billion for the buy and the remaining $500 million for refinancing and general purposes.