XENT - Intersect ENT to divest business in effort gain antitrust approval for Medtronic deal

Medtronic (NYSE:MDT), which agreed to purchase Intersect ENT (NASDAQ:XENT) for $1.1B in August, said Intersect intends to divest its Fiagon business as the companies work to gain U.S. antitrust approval for the deal.  The companies have agreed on the material terms of a sale and purchase agreement for a sale of the Fiagon business to Hemostasis LLC, according to an 8-K filing on Wednesday. Medtronic (MDT) warned that the U.S. Federal Trade Commission may or may not accept a consent decree relating to the sale of the Fiagon to Hemostasis and the FTC can sue to stop the purchase of XENT if it believes a combination will lessen competition. The disclosure comes after Dealreporter last month said the parties were said to be finalizing plans on potential divestitures in an effort to resolve U.S. antitrust concerns.  A XENT spokesman told Dealreporter at the time that the transaction remains on track to close in April. Recall in November that

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Intersect ENT to divest business in effort gain antitrust approval for Medtronic deal