Medtronic, Covidien deal approved
MINNEAPOLIS – Medtronic shareholders on Tuesday approved a $43 billion dollar acquisition of Covidien.
The deal still requires approval from the High Court of Ireland, according to local newspapers.
The deal was first announced in June 2014. The combined company, Medtronic PLC, will retain offices in Minneapolis but have its headquarters in Ireland, where Covidien is based. That has drawn criticism for being a “tax dodge,” according to reports.
The combined company will have a comprehensive product portfolio and broad geographic reach, with 87,000 employees in more than 150 countries.
The deal is expected to be finalized in the last week of January or early February.