Integer clears antitrust hurdle in KKR deal

What happened

Integer Holdings Corporation (NYSE: ITGR) said it received early termination of the Hart-Scott-Rodino waiting period for its pending acquisition by an affiliate of KKR. Under the merger agreement announced August 3, 2026, an affiliate of KKR will acquire all outstanding Integer shares for $127 per share in cash. The company said the transaction represents a total enterprise value of approximately $5.7 billion, and the HSR clearance satisfies one closing condition.

Integer said the transaction still needs stockholder approval, other regulatory approvals, and other customary closing conditions. The filing says the merger is expected to close by the end of 2026. The board unanimously recommends that stockholders vote FOR the merger agreement and the other related proposals.

Key numbers

Metric	Latest	Change	Source
Purchase price	$127 per share in cash		Press release
Enterprise value	approximately $5.7 billion		Press release
Special meeting of stockholders	October 21, 2026 at 9:00 a.m., Central Time		SEC 8-K
Expected close	by the end of 2026		SEC 8-K

Read more: Integer (ITGR) stock analysis and investment case

Why it matters

OptimistFi's case is that Integer is a scaled medical-device CDMO whose value creation depends on OEMs continuing to outsource complex, regulated programs at margins that justify the capital employed. This filing is mixed for that view because it turns the stock into a deal process with a fixed cash price and an approximately $5.7 billion enterprise value, but it does not close the deal.

The company still says stockholder approval and other regulatory and customary closing conditions remain. That includes approvals under certain other applicable antitrust and foreign direct investment laws.

The cash offer gives investors a clear reference point if the merger closes. But the early HSR termination only removes one hurdle. The board's unanimous FOR recommendation supports the path to closing, while the special meeting vote and the remaining approvals are still pending.

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What's next

Integer will hold a virtual Special Meeting of Stockholders on October 21, 2026 at 9:00 a.m., Central Time, to vote to adopt the merger agreement and approve other related proposals. Stockholders of record as of the close of business on September 8, 2026 are entitled to vote at the meeting. Integer continues to expect the transaction to close by the end of 2026.

A favorable vote would support that timetable. A rejection would weaken it.

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