October 15, 2026- Medtronic plc announced the completion of its separation of MiniMed Group, Inc. As separately announced yesterday, Medtronic has elected to exchange all of its remaining interest in MiniMed (totaling 252,813,348 shares of MiniMed common stock) in its previously announced offer to exchange shares of MiniMed common stock for outstanding Medtronic ordinary shares, which was 5.4x subscribed. The separation of MiniMed from Medtronic is now complete.
Full details of the results of the exchange offer are available in a separate press release issued yesterday. The exchange agent will promptly credit newly issued shares of MiniMed common stock in book-entry form to accounts maintained by the MiniMed transfer agent for tendering shareholders whose Medtronic ordinary shares were accepted in the exchange offer. Checks in lieu of fractional shares of MiniMed common stock will be delivered after the exchange agent has aggregated all fractional shares and sold them in the open market. Goldman Sachs & Co. LLC and BofA Securities, Inc. served as dealer managers for the exchange offer.