Medtronic Acquisition of Covidien Receives U.S. FTC Clearance

Medtronic, Inc. (NYSE: MDT) and Covidien plc (NYSE: COV) today announced the receipt of U.S. Federal Trade Commission (FTC) clearance of Medtronic's proposed acquisition of Covidien. The FTC's clearance follows Medtronic's and Covidien's agreement to a proposed consent order, which includes a commitment to divest certain assets related to Covidien's drug-coated balloon catheter product. Medtronic's acquisition of Covidien is expected to close in early 2015 after receipt of certain additional regulatory clearances and approvals by both companies' shareholders and sanction by the High Court of Ireland.
Source: News from Angioplasty.Org - Category: Cardiology Source Type: news