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BOSTON SCIENTIFIC BETTING $100 MIL. ON CVIS INTRAVASCULAR ULTRASOUND POTENTIAL

This article was originally published in The Gray Sheet

Executive Summary

BOSTON SCIENTIFIC BETTING $100 MIL. ON CVIS INTRAVASCULAR ULTRASOUND POTENTIAL; on Aug. 31, the two companies announced an agreement whereby BSC would acquire Cardiovascular Imaging Systems, Inc. in a deal valued at $98.6 mil. Under the terms of the agreement, BSC will pay $10.50 per share for all 8.3 mil. outstanding shares of CVIS and about 30,000 shares of employee stocks to be issued between now and the deal's closing. In addition, BSC will pay $10.50 for each of 980,000 outstanding CVIS stock options that have a total value of $5 mil. when exercised.

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