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News Breaks
June 17, 2014
14:50 EDTCOV, MDTMedtronic says inversion does not change tax rate 'much'
Medtronic (MDT) says its blended rate with Covidien (COV) would be "slightly" lower. Medtronic says that its proposed deal would give it more flexibility for its cash and that it will review its shareholder return options. Medtronic repeated its view that its proposed Covidien deal will add to its EPS. Comments from Medtronic CFO Gary Ellis speaking at the Wells Fargo Healthcare conference.
News For MDT;COV From The Last 14 Days
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August 25, 2015
09:07 EDTMDTMedtronic to acquire Twelve for $458M
In support of the company's therapy innovation strategy, Medtronic announced that it has signed a definitive agreement to acquire Twelve, a medical device company focused on the development of a transcatheter mitral valve replacement, or TMVR device. Twelve is the twelfth company spun out from the premier medical device incubator The Foundry. Medtronic has agreed to pay up to $458M for Twelve including $408M at closing and $50M on achievement of CE Marking. The cash- and debt-free transaction remains subject to customary closing conditions, and is expected to close in October 2015.

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