Boston Scientific Corporation has entered into a definitive agreement to acquire Penumbra, Inc. in a transaction valued at approximately $14.5 billion. The deal will be financed with roughly 73 percent cash and 27 percent Boston Scientific stock, with the cash portion to be funded through a combination of existing reserves and new debt. Penumbra shareholders will have the option to elect cash or stock consideration, subject to proration, and the transaction represents one of the largest strategic acquisitions in the medical device sector this year. Both companies’ boards have unanimously approved the merger, which is expected to close in 2026, pending regulatory and shareholder approval.

Following the acquisition announcement, BTIG revised its rating on Penumbra shares from Buy to Neutral, citing uncertainty over integration risks and financing dilution. The upgrade comes on the heels of a 19 percent premium implied by the transaction relative to Penumbra’s last closing level prior to the deal announcement. BTIG analysts highlighted that while the merger strengthens Boston Scientific’s cardiovascular and neurovascular portfolio, near-term earnings per share are expected to be diluted by six to eight cents in the first year post-close.

On January 16, 2026, Kahn Swick & Foti, LLC, led by former Louisiana Attorney General Charles C. Foti, Jr., announced an investigation into whether the proposed sale of Penumbra provides adequate consideration and followed a fair process. The firm is examining board deliberations, potential conflicts of interest among advisors, and valuation analyses underpinning the deal. Penumbra shareholders seeking to discuss their legal rights can contact KSF’s managing partner at the dedicated toll-free number or visit the firm’s case website for more information.

Halper Sadeh LLC has initiated a separate inquiry on behalf of Penumbra investors to determine if the board breached its fiduciary duties or failed to secure the best possible deal. The firm is investigating whether material information was fully disclosed and if the consideration undervalues peer transactions in high-growth vascular segments. Potential remedies could include supplemental disclosures, increased merger consideration or other shareholder relief, all pursued on a contingent fee basis without out-of-pocket costs for investors.