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Medtronic makes history with buy of Covidien PLC for $42.5bn, plus assumption of debt
19 Jun 2014
Executive Summary
In the largest medical device M&A to date, Medtronic Inc. acquired publicly traded Irish medical technology and services company Covidien PLC. Medtronic will pay $94.13 per share ($35.19 in cash and $58.94--0.956 of a Medtronic ordinary share--in stock) for each Covidien outstanding share, valuing the deal at $42.5bn--a 29% premium, and over four times Covidien’s 2013 revenues. Medtronic will also assume approximately $5bn in Covidien debt. Post-acquisition, Covidien shareholders will have about a 30% stake in the combined company.
Deal Industry
- Medical Devices
-
Medical Devices
- Implantable Devices
- Monitoring Equipment & Devices
- Radiofrequency Devices
-
Surgical Equipment & Devices
- Minimally or Less Invasive
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Payment Includes Cash
- Payment Includes Stock
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Medtronic makes history with buy of Covidien PLC for $42.5bn, plus assumption of debt
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