Silk Road Medical Surges In Pre-market On Agreement To Be Acquired By Boston Scientific

(RTTNews) - Shares of Silk Road Medical, Inc (SILK) were rising more than 23 percent in pre-market on Tuesday to $26.70, after the medical device company announced its decision to be acquired by Boston Scientific Corporation (BSX) in a transaction valued about $1.26 billion.

The purchase price of $27.50 per share represents approximately 38 percent premium to the volume-weighted average share price of Silk Road Medical over the past 60 days.

The transaction is expected to close in the second half of 2024.

Silk Road Medical shares had closed at $21.67, up 1.31 percent on Monday. The stock has traded in the range of $6.08 - $34.13 in the last 1 year.