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Apollo Endosurgery to be acquired by Boston Scientific for $10.00 per share
The Fly

Apollo Endosurgery to be acquired by Boston Scientific for $10.00 per share

Apollo Endosurgery (APEN) announced it has entered into a definitive merger agreement to be acquired by Boston Scientific Corporation (BSX) in an all-cash transaction with an enterprise value of approximately $615 million. This transaction has been unanimously approved by the Apollo Board of Directors. The acquisition price of $10.00 per share represents an approximate 67% premium to the closing price of Apollo’s common stock on November 28, 2022 and the volume weighted average closing price of Apollo’s common stock in the three months prior to announcement of the transaction. The transaction is subject to the satisfaction of customary closing conditions, including approval by a majority of Apollo’s stockholders and applicable regulatory approval, and is expected to close in the first half of 2023. Certain stockholders representing 8.4% of Apollo’s outstanding shares of common stock have agreed to vote their shares in favor of the transaction. Upon the completion of the transaction, Apollo will become a wholly-owned subsidiary of Boston Scientific.

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