HeartWare Drops Valtech Deal Under Shareholder Pressure; Stays Focused On VADs

The ventricular-assist device company HeartWare International announced it was terminating its September 2015 agreement to buy heart-valve repair firm Valtech on the same day it disclosed an agreement with an activist shareholder group that opposed the deal.

HeartWare International Inc. abandoned its bid to get into the valve business with the acquisition of Valtech Cardio Ltd. following months of pressure from an activist shareholder to abandon the deal.

The ventricular-assist device company announced on Jan. 28 that it was terminating its September 2015 agreement to buy Valtech. On the same day, HeartWare announced a "cooperation agreement" with Engaged...

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