Thoratec, HeartWare Abandon Merger Talks

Law360, New York (August 3, 2009, 1:21 PM EDT) -- Medical device maker Thoratec Corp. has called off its proposed $282 million acquisition of rival HeartWare International Inc. following the Federal Trade Commission's decision to challenge the merger in court.

Thoratec announced Friday that it had terminated its controversial bid for HeartWare to avoid a “protracted, costly and unpredictable” legal battle with the FTC.

The antitrust regulator said Thursday it had authorized a lawsuit to block the acquisition, claiming the merger would substantially reduce competition in the U.S. market for certain life-saving heart devices.

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