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Covidien PLC announces definitive agreement to acquire Given Imaging Ltd


Sunday, 8 Dec 2013 02:29am EST 

Covidien PLC:Says a definitive agreement under which Covidien will acquire all of the outstanding shares of Given Imaging Ltd for $30.00 per share in cash, for a total of about $860 million, net of cash and investments acquired.Says the transaction is subject to customary closing conditions, including Given Imaging shareholder approval and the receipt of certain regulatory approvals, and is expected to be completed by Mar. 31, 2014.Says the boards of directors of both companies have approved the transaction.Says that the boards of directors of DIC, Elron and Rdc, owners of 44 pct of Given's outstanding shares, have approved voting in favor of the transaction. DIC has also entered into a customary voting agreement with Covidien.Says that Covidien intends to finance the transaction through cash on hand and will report Given Imaging within the Medical Devices business segment. 

Company Quote

87.1
-0.69 -0.79%
28 Jul 2014