Boston Scientific to buy majority stake in Chinas Acotec
Summary
Dec 11 (Reuters) - U.S. medical device maker Boston Scientific Corp (BSX.N) will make a partial offer for a majority stake of up to 65% in Chinese medical technology company Acotec Scientific Holdings (6669.HK), the companies said. Boston Scientific said it would pay HK$20 ($2.57) a share, for a total cash payment of about $523 million, for a 65% stake. The accounting and consultancy firm said it expected activity in 2023 to "more closely resemble prior years". The offer of HK$20 per share for Acotec is a premium of about 31.6% over its last close, and about 135.5% over the average close for the last 150 consecutive trading days, the Chinese firm told the Hong Kong stock exchange on Monday. Reporting by Jyoti Narayan in Bengaluru and Roxanne Liu in Beijing; Editing by Daniel Wallis and Clarence Fernandez
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