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FTC and EC grant clearance for Medtronic acquisition of Covidien

December 20, 2014

Medtronic recently announced it has received clearance from the Federal Trade Commission and conditional clearance from the European Commission for its proposed acquisition of Covidien.

Clearance from the FTC comes on the heels of Medtronic and Covidien’s agreement to a proposed consent order, which included a commitment to divest certain Covidien assets to The Spectranetics Corporation — an allocation that will take place following the finalization of the proposed acquisition and the factor upon which the EC’s conditional clearance hinges, according to a company press release.
The acquisition of Covidien is expected to close early in 2015 following additional clearances from the shareholders of both companies, as well as a sanction from the High Court of Ireland.

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