Penumbra (PEN) Climbs to All-Time High on $14.5-Billion Merger

Core Viewpoint - Penumbra Inc. is set to be acquired by Boston Scientific Corporation for $14.5 billion, leading to a significant increase in its stock price, reaching an all-time high of $352.15 during intra-day trading before closing at $350.49, an increase of 11.82% [1][3]. Group 1: Acquisition Details - Boston Scientific has entered into a definitive agreement to acquire Penumbra at a price of $374 per share, which will be a combination of cash and stock [2][3]. - Shareholders of Penumbra will have the option to receive either $374 in cash or 3.8721 shares of Boston Scientific common stock for each share of PEN they own [3]. Group 2: Strategic Implications - The acquisition is expected to be completed in 2026, pending regulatory approvals and other customary closing conditions [3]. - Adam Elsesser, Chairman and CEO of Penumbra, will join the board of directors at Boston Scientific upon the transaction's completion [4]. - Boston Scientific views this acquisition as an opportunity to enter new, fast-growing segments within the vascular space, enhancing their revenue and margins over time [4][5].