Medtronic (NYSE:MDT) and Covidien (NYSE:COV) said today that the Irish High Court approved their plan to hold shareholder meetings Jan. 6, 2015, for votes on their pending, $43 billion merger.
Medtronic’s meeting is slated for 8 a.m. Jan. 6 in Minneapolis. Covidien is scheduled to hold 2 meetings that day, both in Dublin; the 1st, ordered by the High Court, is slated for 10 a.m. and the 2nd 15 minutes later.
The companies said they expect to send out joint proxy statements and a prospectus to shareholders "in the coming days."
Medtronic is preparing to float about $10 billion in bonds to help fund the $43 billion merger now that some $13.5 billion in overseas cash is off the table.
The bond sale is part of the $16 billion in external debt Medtronic is trying to drum up for the merger.