Medtronic Inc has won U.S. antitrust approval to purchase Dublin-based Covidien Plc on condition that it sell its drug-coated balloon catheter business, the Federal Trade Commission said on Wednesday.Colorado-based Spectranetics Corp will purchase Covidien's drug-coated catheter business, the FTC said.Medtronic and Covidien shareholders will vote on the merger 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 0.94% or $0.93/share to $100.25. 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 1619146.
Medtronic, Inc. (Medtronic) is a medical technology company. Shares of MDT traded higher by 0.71% or $0.52/share to $73.31. 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 3515677.
Source
