Axonics shares are trading lower after the company and Boston Scientific received a request for additional information from the FTC in connection with the FTC's review of the merger agreement. The merger is now expected to be completed in the second half of 2024.
Portfolio Pulse from Benzinga Newsdesk
Axonics (AXNX) and Boston Scientific (BSX) shares are trading lower after receiving a request for additional information from the FTC regarding their merger agreement. The completion of the merger is now anticipated in the second half of 2024.
April 04, 2024 | 12:57 pm
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NEGATIVE IMPACT
Axonics shares are trading lower following a request for additional information from the FTC on their merger with Boston Scientific, delaying the merger's completion to the second half of 2024.
The request for additional information by the FTC indicates regulatory hurdles that could delay the merger, potentially affecting Axonics' stock price negatively in the short term due to uncertainty and delayed merger benefits.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Boston Scientific shares are trading lower after the FTC requested more information on its merger agreement with Axonics, pushing the expected merger completion to the second half of 2024.
The FTC's request for additional information suggests potential regulatory challenges, leading to a negative short-term impact on Boston Scientific's stock price due to the uncertainty and postponement of merger benefits.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90