Medtronic’s MiniMed Exchange Offer Ends Oversubscribed at 18.3%

Medtronic plc’s exchange offer for MiniMed Group shares was oversubscribed when it expired Oct. 9, with an 18.3% acceptance rate recorded for the transaction.

Medtronic will exchange 55 million of its shares for 252.8 million remaining MiniMed shares. The exchange will complete the offer following demand that exceeded the number of Medtronic shares available.

The transaction’s next step is the exchange of the Medtronic shares for the remaining MiniMed shares.