Boston Scientific to Buy Penumbra for More Than $14 Billion (3)

Boston Scientific Corp. agreed to buy medical device maker Penumbra Inc. in a deal valued at more than $14 billion to expand in the treatment of blood clots and stroke.

Boston Scientific said it will pay $374 a share in cash and stock for Penumbra, which makes products to remove blood clots from veins and arteries. That’s about 19% above Penumbra’s closing price on Wednesday.

The deal is Boston Scientific’s largest in 20 years. Executives said it would accelerate growth with new products that complement Boston Scientific’s existing offerings, even as it would be a slight drag on earnings in ...