Chinese Ministry of Commerce Clears Medtronic Acquisition of Covidien

From Medtronic:

Chinese Ministry of Commerce Clears Medtronic Acquisition of Covidien

MINNEAPOLIS AND DUBLIN, Ireland - Dec. 4, 2014 - Medtronic, Inc. (NYSE: MDT) andCovidien plc (NYSE: COV) today announced that the Chinese Ministry of Commerce has cleared Medtronic's proposed acquisition of Covidien. The proposed acquisition has also been cleared by the South Korean Fair Trade Commission and all necessary antitrust clearances have now been obtained.  The transaction is expected to close in early 2015 after approvals by both companies' shareholders and sanction by the High Court of Ireland.  ABOUT MEDTRONIC  Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world. ABOUT COVIDIEN  Covidien is a global health care leader that understands the challenges faced by providers and their patients and works to address them with innovative medical technology solutions and patient care products. Inspired by patients and caregivers, Covidien's team of dedicated professionals is privileged to help save and improve lives around the world. With more than 39,000 employees, Covidien operates in 150-plus countries and had 2014 revenue of $10.7 billion. To learn more about our business visit www.covidien.com or follow us on Twitter.