Boston Scientific acquires Axonics for $3.7 billion in cash

  • Axonics shares climb 20% after acquisition by Boston Scientific
  • Acquisition valued at $3.7 billion in cash
  • Stock reaches highest intraday level since December 2022
  • Deal expected to close in the first half of this year
  • Axonics expects higher fourth-quarter revenue than analysts’ expectations

Shares of Axonics soared 20% on Monday after the company announced its acquisition by Boston Scientific for $3.7 billion in cash. The stock reached its highest intraday level since December 2022. The deal, which values Axonics at $71 per share, is expected to close in the first half of this year. As a result of the acquisition, Axonics will become a wholly-owned subsidiary of Boston Scientific. Additionally, Axonics announced higher fourth-quarter revenue expectations of $109.3 million to $109.7 million, surpassing analysts’ estimates of $105.6 million.

Public Companies: Axonics (N/A), Boston Scientific (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides factual information about the acquisition of Axonics by Boston Scientific, including the agreed-upon price, the increase in stock price, and the expected timeline for the deal to close. It also includes information about Axonics’ focus on developing products for bladder and bowel issues and their projected fourth-quarter revenue. The article does not contain any obvious bias or misleading information.

Noise Level: 3
Justification: The article provides relevant information about the acquisition of Axonics by Boston Scientific, including the price and the expected closing date. It also mentions the focus of Axonics on developing products for bladder and bowel issues. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly reports on the stock price movement and revenue expectations without providing any context or implications for the readers.

Financial Relevance: Yes
Financial Markets Impacted: Axonics and Boston Scientific

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article pertains to financial topics as it discusses the acquisition of Axonics by Boston Scientific. The financial markets impacted are Axonics and Boston Scientific. There is no mention of an extreme event in the article.

Reported publicly: www.marketwatch.com