St. Paul, Minn.-based devicemaker St. Jude Medical has completed its $1.3 billion acquisition of AGA Medical of Plymouth, Minn., a manufacturer of vascular plugs.
St. Jude Medical closes on AGA acquisition
Under the terms of the previously announced deal, St. Jude will pay AGA shareholders $1.05 billion for their tendered shares. AGA shareholders were offered the choice of cash payments of $20.80 per share or 0.54 shares of St. Jude stock in exchange for each share of AGA. Most AGA shareholders chose the cash option. AGA had more than 50 million shares of common stock outstanding, according to a news release from St. Jude.
St. Jude also assumes roughly $225 million in outstanding AGA debt as part of the deal.
St. Jude's wholly owned Asteroid Subsidiary Corp. merged with AGA on Nov. 18 and expects to announce the final financial calculations on the deal's value by Nov. 22, according to the release.
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