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Saturday, June 14, 2014

Medtronic in talks to combine with Covidien in $45 billion deal -source, (NYSE: COV), (NYSE: MDT)

U.S. medical device maker Medtronic Inc is in advanced talks to merge with rival Covidien Plc in a deal valued at between $45 billion and $50 billion, a person familiar with the matter said on Saturday. The deal, which would allow Medtronic to be domiciled in Ireland where Covidien is based and thus take advantage of lower tax rates, could come as soon as Monday, the person said, asking not to be named because the matter is not public.The discussions could still fall apart at the last minute. Representatives for Medtronic and Covidien could not be immediately reached for comment.

Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Shares of COV fell by 0.03% or $-0.02/share to $72.02. In the past year, the shares have traded as low as $53.05 and as high as $73.80. On average, 1943330 shares of COV exchange hands on a given day and today's volume is recorded at 829914.

Medtronic, Inc. (Medtronic) is engaged in medical technology - alleviating pain, restoring health, and extending life for millions of people worldwide. Shares of MDT fell by 0.15% or $-0.09/share to $60.70. In the past year, the shares have traded as low as $51.06 and as high as $64.33. On average, 4298760 shares of MDT exchange hands on a given day and today's volume is recorded at 2085267.



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