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Boston Scientific, BTG £3.3B merger cleared in 3 countries

BTG PLC said its £3.3 billion acquisition by Boston Scientific Corp. received antitrust clearance in the U.S., Spain and Austria.

The proposed transaction was cleared by the U.S. Federal Trade Commission, Spanish regulator CNMC and the Federal Competition Authority of Austria.

The acquisition remains subject to closing conditions, including court approval, with the hearing scheduled on Aug. 15.

Marlborough, Mass.-based medical-device maker Boston Scientific announced in November 2018 that it was acquiring London's BTG, which develops and sells drugs for treating cancer and vascular diseases, for 840 pence per share through a scheme of arrangement.

The deal is expected to become effective Aug. 19. Upon completion, BTG's shares will be delisted from the London Stock Exchange on Aug. 20.