iRhythm Holdings, Inc. [IRTC] - / Target merger
iRhythm Holdings, Inc. will acquire Target for a total consideration of $287.5 million, consisting of $237.5 million in cash and $50 million in iRhythm common stock, with the stock portion based on the volume-weighted average price over the 30 trading days prior to the merger agreement date.
Why this matters
iRhythm Holdings, Inc., a company specializing in the development and sale of medical devices for cardiac monitoring, has announced its acquisition of Target for a total consideration of $287.5 million. The deal includes $237.5 million in cash and $50 million in iRhythm common stock, with the stock portion determined by the volume-weighted average price over the 30 trading days prior to the merger agreement date. This acquisition is structured to include customary adjustments and is subject to conditions such as Target stockholder approval and compliance with the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close by the end of 2026.