• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Medtronic CEO Ishrak seeks to reassure employees on MDT-COV deal | The week in medtech M&A

Medtronic CEO Ishrak seeks to reassure employees on MDT-COV deal | The week in medtech M&A

August 20, 2014 By MassDevice Contributors Network

Amid political noise, Ishrak seeks to reassure employees on Medtronic-Covidien deal

August 15, 2014 by Brad Perriello

Ishrak seeks to reassure employees on Medtronic-Covidien deal

Medtronic CEO Omar Ishrak today sought to spread oil on the waters of controversy surrounding Medtronic’s proposed $43 billion merger with Covidien, telling employees that the companies are well along in their integration planning and working to educate legislators and the public on the pending union’s rationale.

One aspect of the deal, a so-called tax inversion, would see Medtronic shift its corporate domicile from the U.S. to Covidien’s base in Ireland, thereby lowering Medtronic’s overall tax burden and freeing up cash generated overseas. That has raised hackles among both Republicans and Democrats, with the former using it to advocate for corporate tax reform and the latter seeking to ban inversions outright. Read more

Will Medtronic follow Walgreen and abandon inversion in Covidien deal?

August 15, 2014 by Brad Perriello

Will Medtronic follow Walgreen and abandon inversion in Covidien deal?

Medtronic might elect to alter the terms of its $43 billion offer to acquire Covidien over concerns about the tax inversion aspect of the deal, Bloomberg reported today.

Citing the high price of bets on Covidien’s share price declining, the news service reported that investors worry that Medtronic will follow Walgreen’s example and abandon the inversion portion of the deal, which would see Medtronic re-incorporate as an Irish entity subject to that country’s lower corporate tax rate. Read more

Medtronic founder Bakken backs Covidien buy

August 15, 2014 by Brad Perriello

Medtronic founder Bakken backs Covidien buy

Medtronic founder Earl Bakken told employees yesterday that he’s all for the pending, $3 billion acquisition of Covidien, writing from Hawaii that he views the deal as a way to expand Medtronic’s mission.

“As I see it, the most profound outcome of this relationship will be the ability to spread our Mission. We can serve more patients, in more ways, and in more places around the world than ever before. Instead of saying Medtronic improves a life ‘every 3 seconds,’ I expect that we’ll eventually be able to say ‘every second.’ Imagine that! And with Covidien sharing our ‘patient first’ focus, think of all the good we can do,” Bakken wrote in a memo distributed to Medtronic employees. Read more

Allergan-Valeant update: SEC launches Ackman probe, Allergan pays up to $588M for Liris bladder drug, Ackman dangles IPO

August 14, 2014 by Brad Perriello

Allergan-Valeant update: SEC launches Ackman probe, Allergan pays up to $588M for Liris bladder drug, Ackman dangles Pershing IPO

Hedge fund mogul William Ackman and his Pershing Square Capital Management are facing an insider trading probe by the U.S. Securities & Exchange Commission over the hostile takeover bid for Allergan by Pershing Square and Valeant Pharmaceuticals, according to news reports.

Ackman and Valeant have been pressing for months for a proxy vote to oust Allergan’s board and replace it with a roster of their own candidates who would approve the $43.7 billion merger. Allergan has alleged in a lawsuit that its unwanted suitors broke insider trading laws in pursuing the union. Read more

Allergan CFO Edwards steps down amid hostile Valeant takeover bid | Personnel Moves

August 18, 2014 by Brad Perriello

Allergan CFO Edwards steps down amid hostile Valeant takeover bid | Personnel Moves

Allergan said today that longtime CFO Jeff Edwards is stepping down to honor a commitment he made to his family earlier this year, replaced by treasurer Jim Hindman effective immediately.

Edwards promised his family earlier this year that he’d retire, before a hostile takeover by Valeant Pharmaceuticals and William Ackman’s Pershing Square Capital Management hedge fund surfaced. Despite the takeover battle, Edwards is standing by his family promise, although he’s be on tap as a non-executive officer to help smooth the transition, according to a press release. Read more

Filed Under: Mergers & Acquisitions, News Well Tagged With: Allergan, Apple, Aurora Spine, Biolase, Covidien, Insulet, JenaValve, Monarch Medical, Pershing Square Capital Management, Trinity Medical, Valeant Pharmaceuticals, Volpara Solutions

More recent news

  • Aurora Spine begins first procedures with Aero lumbar fusion system
  • Caranx Medical surgical robot TaviPilot AI software wins FDA clearance
  • InspireMD launches carotid stent in U.S. after FDA approval
  • Neuros Medical raises $56M Series D to support nerve stim tech
  • CorWave reports first-in-human LVAD implant

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy