Boston Scientific Corporation has received antitrust clearance from the European Commission regarding its proposed combination with Guidant Corporation.

According to the company release, Boston Scientific must also receive antitrust approval from the US Federal Trade Commission (FTC) before it can close the Guidant transaction. On April 5, Boston Scientific had entered into an agreement containing consent orders that resolved all outstanding antitrust issues with the FTC staff. The FTC Commissioners are currently reviewing the executed agreement.

Boston Scientific expects to close the transaction around the middle of April, shortly after it receives final FTC antitrust approval. Boston Scientific and Guidant shareholders each voted overwhelmingly to approve the combination at separate special meetings held March 31.

In addition to its approval of the combination of Boston Scientific and Guidant, the European Commission also granted antitrust clearance for Abbott's proposed acquisition of Guidant's vascular intervention and endovascular businesses.

On January 25, 2006, Boston Scientific and Guidant had entered into a merger agreement, under which Boston Scientific will acquire all the outstanding shares of Guidant for a combination of cash and stock worth $80 per Guidant share, or approximately $27 billion in aggregate. Guidant shareholders will receive an additional $0.0132 in cash per Guidant share for each day beginning on April 1, 2006 through the closing date of the merger. Boston Scientific has also entered into an agreement with Abbott under which Abbott will acquire Guidant's vascular intervention and endovascular businesses, while agreeing to share rights to Guidant's drug-eluting stent program with Boston Scientific, added the release.