St. Jude Medical To Buy Thoratec In $3.4 Bln Deal - Quick Facts

(RTTNews) - St. Jude Medical (STJ) and Thoratec (THOR) announced their Boards have approved a definitive agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash transaction valued at approximately $3.4 billion, net of cash acquired.

Thoratec is the worldwide leader in mechanical circulatory support technology for the treatment of advanced heart failure, which includes ventricular assist devices that are used for both chronic and acute patient support.

The merger agreement includes a "go-shop" period, during which Thoratec will actively solicit alternative proposals from third parties for the next 30 days continuing through August 20, 2015.