Axonics Shares Climb 20% After Acquisition by Boston Scientific
January 08 2024 - 11:36AM
Dow Jones News
By Ben Glickman
Shares of Axonics rose on Monday after the company agreed be
acquired for $3.7 billion in cash by Boston Scientific.
The stock was up 20% to $69.25, its highest intraday level since
December 2022. Shares are up about 26% in the last year.
Boston Scientific said before the open it would pay $71 per
share in cash for Axonics, which is focused on developing products
to address bladder and bowel issues. Axonics will become a
wholly-owned subsidiary of Boston Scientific.
The deal is expected to close in the first half of this
year.
Axonics said Monday it now expects fourth-quarter revenue of
$109.3 million to $109.7 million. Analysts polled by FactSet
expected fourth-quarter revenue of $105.6 million.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 08, 2024 11:21 ET (16:21 GMT)
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