November 20, 2018 / 9:06 AM / a month ago

Boston Scientific offers to buy UK's BTG for about $4.24 billion

Nov 20 (Reuters) - U.S. medical device maker Boston Scientific Corp said it offered to buy British pharmaceutical firm BTG Plc for about 3.3 billion pounds ($4.24 billion) in cash.

The offer of 840 pence in cash per share represents a premium of 36.6 percent to BTG’s close of 615 pence on Monday.

BTG said it plans to recommend the deal to its shareholders as it considers the terms to be fair and reasonable. ($1 = 0.7786 pounds) (Reporting by Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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