MergerApr 29, 2026, 04:45 PM
PEN to be acquired by Boston Scientific for $14.5B, $374/share
AI Summary
Penumbra Inc. announced details regarding its previously disclosed Merger Agreement with Boston Scientific Corporation, under which Penumbra will be acquired for an enterprise value of approximately $14.5 billion. Stockholders will receive $374 per share, with an option to elect cash or Boston Scientific common stock, subject to proration, resulting in a 73% cash and 27% stock consideration mix. The merger is anticipated to close by the end of 2026, pending customary approvals. Additionally, Penumbra will hold its 2026 Annual Meeting of Stockholders on June 18, 2026, to vote on the election of directors, auditor ratification, and executive compensation.
Key Highlights
- Penumbra Inc. to be acquired by Boston Scientific Corporation for approximately $14.5 billion enterprise value.
- Stockholders to receive $374 per share, with an election for cash or Boston Scientific common stock.
- Transaction consideration is approximately 73% cash and 27% Boston Scientific common stock.
- Merger expected to close by the end of 2026, subject to stockholder and regulatory approvals.
- Annual Meeting of Stockholders scheduled for June 18, 2026, at 11:00 a.m. PDT.
- Proposals include the election of three Class II directors.
- Ratification of PricewaterhouseCoopers LLP as independent auditor for fiscal year 2026.
- Advisory vote on the compensation of the company's named executive officers.