FTC to Challenge Thoratec’s Proposed HeartWare Buyout
By Simeon Bennett
July 29 (Bloomberg) -- The United States Federal Trade Commission will file a complaint in the U.S. Federal District Court to challenge Thoratec Corp.’s proposed $282 million acquisition of HeartWare International Inc.
The two companies are “disappointed” with the Washington- based FTC’s decision, they said in a statement today. They didn’t give a reason for the complaint and the FTC’s Web site wasn’t accessible as of 9:22 p.m. Washington time.
“The companies intend to review the FTC’s decision and mutually assess the appropriate next steps and promptly communicate their intentions once a decision has been made,” the two companies said.
Thoratec, based in Pleasanton, California, offered $14.30 cash and 0.6054 Thoratec shares for each share of Sydney, Australia-based HeartWare in February.
Thoratec is buying HeartWare for its experimental heart pumps, which can extend life for patients with heart failure, the company said at the time. HeartWare’s implantable pump is sold in Europe and the company has begun enrolling patients in tests for U.S. approval.
http://www.bloomberg.com/apps/news?pid=20601081&sid=ajdj9pmaJ4cw#
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