MDT · News · 20261014N

MiniMed Separation

Medtronic plc · 2026-10-14 · Importance 65 · Surprise 60 · In source text

Medtronic completed its exchange offer on October 9, 2026, exchanging all remaining 252,813,348 MiniMed common shares for 55,032,401 newly issued Medtronic ordinary shares. The offer was oversubscribed, with 297,521,390 Medtronic shares validly tendered and a final 18.289133% proration factor applied to most tendered shares, while eligible odd-lot tenders were accepted in full. The transaction leaves Medtronic with no remaining MiniMed common-stock ownership and completes its separation of the diabetes business.

Key facts

• Medtronic elected to exchange all of its remaining interest in MiniMed totaling 252,813,348 shares of MiniMed common stock for 55,032,401 Medtronic ordinary shares. source
• Medtronic will exchange its remaining 252,813,348 MiniMed shares for 55,032,401 Medtronic ordinary shares. source
• The transaction concluded on October 9, 2026, and means Medtronic now holds no MiniMed common stock. source
• The exchange offer and withdrawal rights expired at 12:00 midnight, New York City time, at the end of the day on October 9, 2026. source
• The exchange offer was oversubscribed. source
• The offer was oversubscribed, with 297,521,390 Medtronic shares validly tendered. source
• Medtronic disposed of all its remaining interest in MiniMed by accepting 55,032,401 ordinary shares in exchange for 252,813,348 newly issued MiniMed common shares. source
• A proration factor of 18.289133% will be applied to most tendered shares. source

Impact estimates