Medtronic completes acquisition of Covidien

SHARE Medtronic completes acquisition of Covidien

MINNEAPOLIS — Medical device maker Medtronic says it has completed its $49.9 billion acquisition of Dublin-based surgical supplier Covidien.

Medtronic made the announcement Monday. The company says shares of Medtronic PLC are expected to begin trading on the New York Stock Exchange under the symbol “MDT” on Tuesday.

The Star Tribune reports the deal puts both companies under a corporate parent based in Ireland, where corporations face taxes about one-third the U.S. rate.

Earlier Monday, the High Court of Ireland sanctioned the sale of Covidien to Medtronic.

Medtronic, which will keep its executive offices in Minneapolis, will become a global maker of health-care goods with $27 billion in revenue and a combined 85,000 employees.

Medtronic first announced the deal to buy Covidien in June.

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