St. Jude Medical’s $3B Thoratec buyout set to close today

Thoratec (NSDQ:THOR) said its shareholders approved St. Jude Medical‘s (NYSE:STJ) $3.4 billion buyout offer yesterday, setting the stage for the deal to close today.

In August, U.S. anti-trust regulators cleared the deal, in which Pleasanton, Calif.-based Thoratec’s stockowners are due to receive $63.50 in cash for each THOR share.

Little Canada, Minn.-based St. Jude took out a 5-year, $2.6 billion loan from Bank of America to fund the acquisition, earmarking $2.1 billion for the buy and the remaining $500 million for refinancing and general purposes.

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