Medtronic 8-K

Summary

Medtronic corrected a guaranteed-delivery deadline in its MiniMed share exchange offer prospectus. The deadline for the exchange agent to receive the tender materials is 5:00 p.m. New York City time on the second NYSE trading day after the notice is executed, not midnight as the prospectus had incorrectly stated.

Key Figures

• Offer: up to 225,361,295 newly issued MiniMed shares in exchange for Medtronic ordinary shares. If oversubscribed, Medtronic currently intends to accept additional validly tendered shares, capped at 2% of Medtronic’s total outstanding ordinary shares, representing its remaining interest in MiniMed.

Investor Takeaways

• Watch the offer’s completion and any oversubscription, which will determine how many Medtronic shares are accepted and Medtronic’s remaining interest in MiniMed.