04 04 2016

Medtronic plc $2.75 Billion Cash Tender Offer

Davis Polk is advising the dealer managers on a cash tender offer by Medtronic, Inc. and Covidien International Finance S.A. (“CIFSA”), each a wholly owned subsidiary of Medtronic plc, to purchase up to $2.75 billion combined aggregate purchase price of CIFSA’s 6.550% senior notes due 2037 and 2.950% senior notes due 2023 and Medtronic, Inc.’s 4.000% senior notes due 2043, 2.750% senior notes due 2023, 4.450% senior notes due 2020, 4.375% senior notes due 2035 and 2.500% senior notes due 2020.


BofA Merrill Lynch, Citigroup Global Markets, Inc. and J.P. Morgan Securities LLC are acting as the lead dealer managers for the Tender Offer and HSBC Securities (USA) Inc., Mizuho Securities USA Inc. and Wells Fargo Securities, LLC are acting as co-dealer managers. Medtronic plc, headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies. Medtronic plc employs more than 85,000 people worldwide, serving physicians, hospitals and patients in approximately 160 countries. The Davis Polk corporate team includes partners Richard A. Drucker (Picture) and Sophia Hudson and associates Christopher M. Bezeg and Cameron W. Ormsby. The tax team includes partner Kathleen L. Ferrell and associate Dao Fu. Involved fees earner: Richard Drucker - Davis Polk & Wardwell; Sophia Hudson - Davis Polk & Wardwell; Christopher Bezeg - Davis Polk & Wardwell; Cameron Ormsby - Davis Polk & Wardwell; Kathleen Ferrell - Davis Polk & Wardwell; Dao Fu - Davis Polk & Wardwell;

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