Medtronic (NYSE:MDT) chairman & CEO Omar Ishrak and Covidien (NYSE:COV) president & CEO Joe Almeida are on tour, making stops at company sites around the U.S. to talk about their pending $43 billion merger.
The duo opened in Connecticut on July 9, where more than 600 Covidien employees gathered to hear the 2 CEOs speak. Their next engagement is scheduled for August 22, and the pair will tally 7 total Covidien sites and "several" Medtronic sites over the next few months, according to an SEC notice.
The companies have had to fight a lot of negative headlines and regulatory pressure as they work out the details of their mega-merger, which will see Medtronic shift its corporate headquarters from Minnesota to Ireland.
The device makers have faced condemnation from regulators and pressure from stakeholders, including a recent lawsuit filed by shareholders looking to block the deal and one accusing Covidien’s chief and board members of breaching their fiduciary duties in agreeing to the acquisition.
The deal has also become a political football as members of Congress have joined the White House in looking to penalize companies who shift their headquarters overseas in order to benefit from more favorable tax rates.