Merger Arbitrage activity declined significantly last week with one new deal announced, and three deals closing.
Healthcare deals are making a comeback again. BELLUS Health (BLU) and GSK plc (GSK) entered into an agreement last week, and Shockwave Medical (SWAV) attracted takeover interest from Boston Scientific (BSX).
Shockwave Medical (SWAV)
Shockwave Medical is a cardiovascular medical device company, with a market cap of $10.5 billion. The company focuses on developing and commercializing products that are intended to transform the treatment of calcified vascular disease by establishing a new standard of care with Intravascular Lithotripsy (IVL). IVL seeks to minimize trauma within the artery by using sonic pressure waves.
On Friday, April 21, 2023, Bloomberg reported that Shockwave shares jumped as much as 14% on takeover interest from Boston Scientific. Boston Scientific has been exploring a potential deal for Shockwave to boost its portfolio of cardiovascular devices.