Traders should monitor the FTC review process and shareholder voting results. The significant premium suggests limited downside risk, but regulatory uncertainty could create volatility. Boston Scientific shareholders may see temporary dilution from the stock component.
Price Chart
Executive Summary
Penumbra Inc is being acquired by Boston Scientific in a mixed cash-and-stock deal valued at $374.00 per share, representing a 26% premium to Penumbra's unaffected stock price. The Penumbra board unanimously recommends approval, citing strategic benefits from Boston Scientific's global scale. Regulatory approvals are pending, including a Second Request from the FTC, with closing expected in 2026.
Key Financial Metrics
Key Facts
- Deal valued at $374.00 per Penumbra share, combining cash ($374.00) and stock (3.8721 Boston Scientific shares) options for shareholders
- 26.74% of shares will receive stock consideration, 73.26% will receive cash, subject to proration
- Perella Weinberg Partners issued a fairness opinion supporting the deal's financial terms
- Boston Scientific will pay a $900 million termination fee if antitrust approvals are denied
- FTC issued a Second Request on March 16, 2026, extending the HSR waiting period
- Special meeting scheduled for May 6, 2026 for shareholder vote
Financial Impact
Approximately $14.7 billion total deal value based on 39.3 million shares outstanding and $374.00 per share price
Risk Factors
- Regulatory approval risk, particularly from FTC antitrust review
- Failure to obtain Penumbra shareholder approval
- Potential delays in closing beyond 2026
- Integration risks post-closing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFM14A Filing (Primary) | 0001140361-26-012785 |
| Document: ny20065749x1_defm14a.htm | 0001140361-26-012785 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 30, 2026 9w ago | Press Release | $321.19 $321.68 | ▼ −0.15% | ▲ +2.84% | $317.55 (+1.13%) |
May 7, 2026 21w ago | 425 | $324.65 $319.37 | ▼ −1.63% | ▼ −4.76% | $317.55 (−2.19%) |
May 6, 2026 21w ago | 8-K | $324.65 $319.37 | ▲ +1.63% | ▲ +4.76% | $317.55 (+2.19%) |
Apr 29, 2026 22w ago | DEFA14A | $326.48 $318.30 | ▼ −2.51% | ▼ −7.73% | $317.55 (−2.74%) |
Apr 17, 2026 24w ago | 425 | $329.71 $326.54 | ▼ −0.96% | ▼ −5.16% | $317.55 (−3.69%) |
Apr 1, 2026 26w ago | DEFM14A | $330.36 $326.48 | ▼ −1.17% | ▼ −11.05% | $317.55 (−3.88%) |
Feb 25, 2026 31w ago | 8-K | $338.67 $336.27 | ▼ −0.71% | ▲ +4.53% | $317.55 (−6.24%) |
US Market Status
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