XENT - Medtronic planned purchase of Intersect ENT said expected to close in May

Medtronic (NYSE:MDT) planned purchase of Intersect ENT (NASDAQ:XENT) is now likely to close in May instead of this month. The delay come as the companies want to give the Federal Trade Commission time to review a divestiture buyer, according to a Dealreporter item, which cited two sources familiar. Dealreporter earlier this month reported that the parties  expected to close the deal this month when a timing agreement with the FTC expires in mid-to-late April. Medtronic, which agreed to purchase XENT for $1.1B in August, said last month XENT intends to divest its Fiagon business as the companies work to gain U.S. antitrust approval for the deal. The companies agreed on a sale and purchase agreement for a sale of the Fiagon business to Hemostasis LLC. The Fiagon sale is expected to also close next month, according to Dealreporter. Recall in November that Intersect ENT received a second request from FTC for planned sale to Medtronic.

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Medtronic planned purchase of Intersect ENT said expected to close in May