---
schema_version: "secwatch.filing_event.v1"
accession: "0000947871-26-000037"
form_type: "8-K"
ticker: "BSX"
cik: "0000885725"
company_name: "BOSTON SCIENTIFIC CORP"
filed_at: "2026-01-15T23:59:59+00:00"
generated_at: "2026-05-16T10:18:14.471538+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Boston Scientific to acquire Penumbra for $374 cash or 3.8721 BSX shares per share (73.26% cash/26.74% stock mix)

## Summary
- Penumbra shareholders elect cash ($374/share) or stock (3.8721 BSX shares/share); proration targets 73.26% cash, 26.74% stock.
- Penumbra termination fee $525M if superior proposal accepted; BSX pays $900M if regulatory blocks after approval.
- Closing conditions include Penumbra stockholder vote, HSR clearance, S-4 effectiveness, and no material adverse effect.
- Outstanding Penumbra options and RSUs convert to cash/BSX stock based on formulas; certain RSUs assumed by BSX.
- Transaction expected to close in H1 2026, subject to conditions.

## SEC filing metadata
- accession: 0000947871-26-000037
- form_type: 8-K
- ticker: BSX
- cik: 0000885725
- company_name: BOSTON SCIENTIFIC CORP
- filed_at: 2026-01-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885725/000094787126000037/0000947871-26-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885725/000094787126000037/ss5822815_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000947871-26-000037
- JSON: https://secwatch.observer/filing/0000947871-26-000037.json
- Plain text: https://secwatch.observer/filing/0000947871-26-000037.txt

## Key facts
- Material Agreements
  BOSTON SCIENTIFIC CORP entered into Agreement and Plan of Merger with Penumbra, Inc. (effective 2026-01-14).
  - Action: entry
  - Agreement: merger
  - Counterparty: Penumbra, Inc.
  - Effective: 2026-01-14
  source text: On January 14, 2026, Boston Scientific Corporation, a Delaware corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Pinehurst Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“ Merger Sub ”), and Penumbra, Inc., a Delaware corporation (“ Penumbra ”), providing for the merger of Merger Sub with and into Penumbra (the “ Merger ”), with Penumbra surviving the Merger as a wholly owned subsidiary of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/885725/000094787126000037/0000947871-26-000037-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.