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Post by nemzter on Nov 26, 2014 17:12:06 GMT -5
I wonder if they'll have any money left to purchase someone else? ### www.startribune.com/business/284009201.htmlMedtronic’s proposed $42.9 billion acquisition of Ireland-based Covidien is a step closer to completion with a proposed settlement announced Wednesday by the Federal Trade Commission. FTC said the acquisition likely would be anticompetitive because both companies are developing products to compete in the U.S. market for drug-coated balloon catheters, which are used to treat patients with peripheral artery disease. To address the concern, Covidien announced in October that it would sell its business unit to a Colorado-based company called the Spectranetics Corp. On Wednesday, FTC said the sale could resolve the trade commission’s concerns. “This regulatory clearance represents an important milestone in bringing our companies together,” Omar Ishrak, the Medtronic chief executive, said in a statement. Currently, only New Jersey-based C.R. Bard Inc. has approval in the U.S. to sell drug-coated balloon devices for treating peripheral artery disease, according to FTC. The commission voted 5-0 to accept the proposed consent order for public comment. The agreement will be published in the Federal Register, and subject to a public comment period through Dec. 29. After that date, the commission will decide whether to make the proposed consent order final. In its statement, Medtronic said it has also entered into a parallel agreement regarding the divestiture of Covidien’s drug-coated balloon catheter business with the Canadian Competition Bureau, which also announced its clearance of the transaction Wednesday. Medtronic’s acquisition of Covidien is expected to close in early 2015, after receipt of certain other regulatory clearances plus shareholder approvals. Shareholders of both companies are scheduled to vote on the deal Jan. 6.
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Post by kc on Nov 26, 2014 21:34:25 GMT -5
You can bet the do have some dollars left for a February transaction.
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Post by kc on Dec 17, 2014 16:57:37 GMT -5
Weird link today on MDT news by Zacks... (Chris Tyler) www.stockmarketsdaily.com/stock-insights-medtronic-inc-nysemdt/5630/Zacks] Medtronic, Inc. (NYSE:MDT) – Several important product approvals as well as label expansions were gained this year. Gilead strengthened its position in the HCV market further with its combination treatment, Harvoni, gaining FDA approval. Harvoni is expected to bring in multi-billion dollar sales for Gilead. The highly lucrative obesity market got a new player with Orexigen’s (OREX) Contrave gaining FDA approval. Meanwhile, it proved to be third time lucky for Medtronic Inc. (NYSE:MDT) with the company finally gaining FDA approval for diabetes product, Afrezza. Attachment DeletedNow this would be very exciting news if true. but its the internet so you can't beleive anything here except speculation. I think that Tyler has fat fingers and didn't edit before hiting send. Oh well. I guess we will have to wait until Feb 2015.
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