Medtronic's Acquisition of Covidien Approved by Irish High Court; Anticipated to Close on January 26, 2015

Medtronic, Inc. (NYSE: MDT) and Covidien plc (NYSE: COV) today announced that the Irish High Court has sanctioned the Covidien scheme of arrangement pursuant to which Medtronic will acquire Covidien under a new holding company incorporated in Ireland to be named Medtronic plc. With the Court's approval of the scheme of arrangement, Medtronic and Covidien anticipate that the transaction, which will result in Medtronic, Inc. and Covidien plc becoming wholly owned subsidiaries of Medtronic plc, will close later today.
Source: News from Angioplasty.Org - Category: Cardiology Source Type: news