Sector News

Medtronic-Covidien merger imminent after Irish court’s OK

January 26, 2015
Life sciences
The Irish High Court has approved the $43 billion merger between Medtronic Inc. and Ireland’s Covidien, clearing the way for the deal to close later today.
 
Medtronic and Covidien announced the court’s decision this morning. They will combine in a new company called Medtronic plc that’s legally based in Dublin, though its management remains at Medtronic’s current headquarters in Fridley, Minn. The two companies’ shares will continue to trade normally today, with the new stock starting to trade Tuesday.
 
Shareholders of the two companies approved the deal earlier this month.
 
The medical-device giant announced in June it would buy Dublin-based medical-products manufacturer Covidien.
 
By Mark Reilly
 

1 response to “Medtronic-Covidien merger imminent after Irish court’s OK

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

AbbVie lifts insider Jeffrey Stewart to commercial chief as company veteran Carlos Alban retires

Life sciences

AbbVie will soon have a new chief commercial officer, who’ll assume the heavy responsibility of navigating the Illinois pharma’s marketing transition from megablockbuster Humira.

November 27, 2020

Belgium biotech argenx nabs Bayer speedy review voucher for a cool $98M

Life sciences

The biotech, which has a series of deals across Big Pharma, will use the voucher, which can speed up the regulatory process for a new drug, for its late-stage drug efgartigimod—but not in the indication you might think.

November 27, 2020

Galapagos sells off Fidelta as CRO activities ‘no longer fit with its strategy’

Life sciences

Galapagos is selling off its contract research organization Fidelta for $37 million to Polish life science company Selvita. Fidelta focuses on inflammation, fibrosis and anti-infectives, with 181 employees at the helm.

Send this to a friend