The US Federal Trade Commission said yesterday it has approved Fresenius’s (NYSE:FMS) acquisition of NxStage Medical (NSDQ:NXTM) for $2 billion.
       As part of the approval, NxStage will have to divest its Lineage lamp kit business and sell it to B. Braun, according to the regulator.
       However, the vote to approve the merger was split, with Republicans Joseph Simmons, Noah Phillips and Christina Wilson voting in favor and Democrats Rohit Chopra and Rebecca Slaughter opposed.
       The Federal Trade Commission said it previously filed a complaint that the merger would harm competition in the U.S. for blood vessels compatible with hemodialysis machines.
       Late last month, Fresenius said the partial US government shutdown had prevented the Federal Trade Commission’s review of the merger, delaying the deal’s closing date, which has now been extended to August 6, 2019.
       The $30-per-share deal represents a 29.6% premium to NXTM’s closing stock price of $23.14 on Aug. 4 last year.
       Fresenius said it plans to finance the deal with a mix of cash and debt and expects NxStage, headquartered in Lawrence, Mass., to grow net income and earnings per share within three years of closing.
       Fresenius shares were up about 4% in premarket trading today to $39.89 as of 9:23 a.m. ET.
       Categories: Business and Financial News, Dialysis, Featured, M&A Tagged With: Fresenius, NxStage Medical Inc.
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