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Wednesday, November 26, 2014

Medtronic gets US antitrust approval to purchase Covidien with divestiture, (NYSE: COV), (NYSE: MDT)

Medtronic Inc has won U.S. antitrust approval to purchase Covidien PLC on condition that it sell its drug-coated balloon catheter business, the Federal Trade Commission said on Wednesday. Shareholders of the two companies will consider the deal on Jan. 6.Medtronic announced the deal in June, estimating its value at $42.9 billion.

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 traded higher by 0.93% or $0.92/share to $100.24. In the past year, the shares have traded as low as $65.49 and as high as $99.79. On average, 4857190 shares of COV exchange hands on a given day and today's volume is recorded at 1218026.

Medtronic, Inc. (Medtronic) is a medical technology company. Shares of MDT traded higher by 0.59% or $0.43/share to $73.22. In the past year, the shares have traded as low as $53.33 and as high as $73.13. On average, 8849670 shares of MDT exchange hands on a given day and today's volume is recorded at 2924807.



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