07:27 AM EDT, 06/18/2024 (MT Newswires) -- (Updates with additional details).

Boston Scientific ( BSX ) and Silk Road Medical ( SILK ) have signed a definitive agreement under which Boston Scientific ( BSX ) will acquire Silk Road Medical ( SILK ) for $27.50 per share, the companies said Tuesday.

The transaction is expected to be completed in H2, subject to required customary closing conditions, the companies added.

Silk Road said its board of directors has already approved the deal. It will become a wholly owned unit of Boston Scientific ( BSX ) after the transaction is completed.

Boston Scientific's ( BSX ) shares were slightly down 0.2% while Silk Road stock was up more than 23% in recent Tuesday premarket activity.

Price: 76.01, Change: -0.18, Percent Change: -0.24