Medtronic Sets Final Exchange Ratio for MiniMed Split-Off

The company determined the final ratio after calculating the per-share values of both entities, noting that the market-derived figure exceeded the pre-established upper limit. Medtronic intends to exchange up to 225,361,295 shares of MiniMed common stock. If the offer is oversubscribed, the company may further exchange an additional 27,452,053 shares of its remaining interest in the group without extending the deadline.

Depending on the level of investor participation and potential proration, Medtronic expects to accept between 49 million and 55 million of its ordinary shares. Goldman Sachs & Co. LLC and BofA Securities, Inc. are serving as dealer managers for the transaction. Investors have been directed to the official prospectus filed with the U.S. Securities and Exchange Commission for full details on the terms and risks associated with the exchange.