Medtronic Announces Preliminary Results of MiniMed Group, Inc. Exchange Offer
Key Highlights
- ➤Medtronic (MDT) will exchange 55,032,401 shares for all remaining 252,813,348 MiniMed shares
- ➤Exchange offer attracted 298,024,452 valid Medtronic shares, making it oversubscribed
- ➤Preliminary proration factor is approximately 18.3% of tendered Medtronic shares
- ➤Final proration factor is expected October 14, 2026, after guaranteed delivery expires
- ➤Medtronic will retain no MiniMed shares after the exchange offer closes
Medtronic Announces Preliminary Results of MiniMed Group, Inc. Exchange Offer PR Newswire
GALWAY, Ireland, Oct. 12, 2026 /PRNewswire/ -- Medtronic plc (Medtronic; NYSE: MDT) today announced that, based on preliminary results, its previously announced offer to exchange shares of common stock of MiniMed Group, Inc. (MiniMed; Nasdaq: MMED) for outstanding Medtronic ordinary shares was oversubscribed. The exchange offer expired at 12:00 midnight, New York City time, at the end of the day on October 9, 2026. Medtronic has decided to exchange all of its remaining interest in MiniMed, totaling 252,813,348 shares of MiniMed common stock. Under the terms of the exchange offer, 4.5939 shares of MiniMed common stock will be exchanged for each Medtronic ordinary share accepted in the exchange offer.
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