{"success":true,"data":{"pressRelease":{"id":"168778","rtpr_id":"nPn9sCbXna-20261014","ticker":"MDT","exchange":"NYSE","all_tickers":["MDT","MMED"],"title":"Medtronic Announces Final Results of MiniMed Group, Inc. Exchange Offer","author":"PR Newswire","published_at":"2026-10-14T12:00:00.528Z","article_body":"Medtronic Announces Final Results of MiniMed Group, Inc. Exchange Offer\nPR Newswire\n\nGALWAY, Ireland, Oct. 14, 2026\n\nGALWAY, Ireland, Oct. 14, 2026 /PRNewswire/ -- Medtronic plc (Medtronic; NYSE:\nMDT) today announced the final results of its previously announced offer to\nexchange shares of common stock of MiniMed Group, Inc. (MiniMed; Nasdaq: MMED)\nfor outstanding Medtronic ordinary shares at an exchange ratio determined by a\nformula described in a registration statement filed by MiniMed on Form S-4\n(Reg No. 333-298914). The exchange offer and withdrawal rights expired at\n12:00 midnight, New York City time, at the end of the day on October 9, 2026.\n\nThe exchange offer was oversubscribed, and Medtronic has elected to exchange\nall of its remaining interest in MiniMed (totaling 252,813,348 shares of\nMiniMed common stock) for 55,032,401 Medtronic ordinary shares.\n\nBecause the exchange offer was oversubscribed, Medtronic will accept only a\nportion of its ordinary shares that were validly tendered and not validly\nwithdrawn, on a pro rata basis in proportion to the number of shares\ntendered. Shareholders who owned fewer than 100 Medtronic ordinary shares, or\nan \"odd-lot,\" and have validly tendered all of their shares will not be\nsubject to proration, in accordance with the terms of the exchange offer. All\nshares validly tendered by eligible \"odd-lot\" shareholders will be accepted.\nThe final proration factor of 18.289133% will be applied to all other validly\ntendered Medtronic ordinary shares to determine the number of such shares that\nwill be accepted. Following the completion of the exchange offer, Medtronic\nwill not retain any of the outstanding shares of MiniMed common stock.\n\nBased on the final count by the exchange agent, Equiniti Trust Company, LLC,\nthe final results of the exchange offer are as follows:\n\n * Total number of Medtronic ordinary shares validly tendered and not validly\nwithdrawn: 297,521,390\n * Shares tendered that will be subject to proration: 296,763,500\n * \"Odd-lot\" shares tendered that will not be subject to proration: 757,890\n * Total number of Medtronic ordinary shares that will be accepted: 55,032,401\nMedtronic ordinary shares tendered but not accepted for exchange will be\nreturned to the tendering shareholders in book-entry form promptly. In\naddition, the exchange agent will promptly credit newly issued shares of\nMiniMed common stock in book-entry form to accounts maintained by the MiniMed\ntransfer agent for tendering shareholders whose Medtronic ordinary shares were\naccepted in the exchange offer. Checks in lieu of fractional shares of MiniMed\ncommon stock will be delivered after the exchange agent has aggregated all\nfractional shares and sold them in the open market.\n\nGoldman Sachs & Co. LLC and BofA Securities, Inc. served as dealer\nmanagers for the exchange offer.\n\nAbout Medtronic\nBold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered\nin Galway, Ireland, is the leading global healthcare technology company that\nboldly attacks the most challenging health problems facing humanity by\nsearching out and finding solutions. Our Mission — to alleviate pain,\nrestore health, and extend life — unites a global team of 95,000+ passionate\npeople across more than 150 countries. Our technologies and therapies treat 70\nhealth conditions and include cardiac devices, surgical robotics, insulin\npumps, surgical tools, patient monitoring systems, and more. Powered by our\ndiverse knowledge, insatiable curiosity, and desire to help all those who need\nit, we deliver innovative technologies that transform the lives of two people\nevery second, every hour, every day. Expect more from us as we empower\ninsight-driven care, experiences that put people first, and better outcomes\nfor our world. In everything we do, we are engineering the extraordinary.\n\nCautions Regarding Forward Looking Statements\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, which are subject to\nrisks and uncertainties, including risks related to the expected effects on\nMedtronic and MiniMed of the exchange offer, the anticipated benefits of the\nexchange offer, Medtronic's ability to successfully realize the anticipated\nbenefits from the separation (including consummating the transaction on a\nbasis that is generally tax-free to shareholders for U.S. federal income tax\npurposes), MiniMed's ability to succeed as an independent publicly traded\ncompany, competitive factors, difficulties and delays inherent in the\ndevelopment, manufacturing, marketing and sale of medical products, government\nregulation, geopolitical conflicts, changing global trade policies, general\neconomic conditions, and other risks and uncertainties described in\nMedtronic's and MiniMed's periodic reports on file with the SEC including\ntheir most recent respective Annual Reports on Form 10-K and Quarterly Reports\non Form 10-Q. In some cases, you can identify these statements by\nforward-looking words or expressions, such as \"anticipate,\" \"believe,\"\n\"could,\" \"estimate,\" \"expect,\" \"forecast,\" \"intend,\" \"looking ahead,\" \"may,\"\n\"plan,\" \"possible,\" \"potential,\" \"project,\" \"should,\" \"going to,\" \"will,\" and\nsimilar words or expressions, the negative or plural of such words or\nexpressions and other comparable terminology. Actual results may differ\nmaterially from anticipated results. Medtronic does not undertake to update\nits forward-looking statements or any of the information contained in this\npress release, including to reflect future events or circumstances.\n\nContacts:\nJustin Paquette\nPublic Relations\n+1-612-271-7935\n\nIngrid Goldberg\nInvestor Relations\n+1-763-505-2696\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/medtronic-announces-final-results-of-minimed-group-inc-exchange-offer-302908450.html\n(https://www.prnewswire.com/news-releases/medtronic-announces-final-results-of-minimed-group-inc-exchange-offer-302908450.html)\n\nSOURCE Medtronic plc\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS974964/Medtronic-Logo.jpg?id=OA3017715\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn9sCbXna-20261014","title":"Medtronic Announces Final Results of MiniMed Group, Inc. Exchange Offer","author":"PR Newswire","ticker":"MDT","created":"2026-10-14T12:00:00.528Z","tickers":["MDT","MMED"],"exchange":"NYSE","article_body":"Medtronic Announces Final Results of MiniMed Group, Inc. Exchange Offer\nPR Newswire\n\nGALWAY, Ireland, Oct. 14, 2026\n\nGALWAY, Ireland, Oct. 14, 2026 /PRNewswire/ -- Medtronic plc (Medtronic; NYSE:\nMDT) today announced the final results of its previously announced offer to\nexchange shares of common stock of MiniMed Group, Inc. (MiniMed; Nasdaq: MMED)\nfor outstanding Medtronic ordinary shares at an exchange ratio determined by a\nformula described in a registration statement filed by MiniMed on Form S-4\n(Reg No. 333-298914). The exchange offer and withdrawal rights expired at\n12:00 midnight, New York City time, at the end of the day on October 9, 2026.\n\nThe exchange offer was oversubscribed, and Medtronic has elected to exchange\nall of its remaining interest in MiniMed (totaling 252,813,348 shares of\nMiniMed common stock) for 55,032,401 Medtronic ordinary shares.\n\nBecause the exchange offer was oversubscribed, Medtronic will accept only a\nportion of its ordinary shares that were validly tendered and not validly\nwithdrawn, on a pro rata basis in proportion to the number of shares\ntendered. Shareholders who owned fewer than 100 Medtronic ordinary shares, or\nan \"odd-lot,\" and have validly tendered all of their shares will not be\nsubject to proration, in accordance with the terms of the exchange offer. All\nshares validly tendered by eligible \"odd-lot\" shareholders will be accepted.\nThe final proration factor of 18.289133% will be applied to all other validly\ntendered Medtronic ordinary shares to determine the number of such shares that\nwill be accepted. Following the completion of the exchange offer, Medtronic\nwill not retain any of the outstanding shares of MiniMed common stock.\n\nBased on the final count by the exchange agent, Equiniti Trust Company, LLC,\nthe final results of the exchange offer are as follows:\n\n * Total number of Medtronic ordinary shares validly tendered and not validly\nwithdrawn: 297,521,390\n * Shares tendered that will be subject to proration: 296,763,500\n * \"Odd-lot\" shares tendered that will not be subject to proration: 757,890\n * Total number of Medtronic ordinary shares that will be accepted: 55,032,401\nMedtronic ordinary shares tendered but not accepted for exchange will be\nreturned to the tendering shareholders in book-entry form promptly. In\naddition, the exchange agent will promptly credit newly issued shares of\nMiniMed common stock in book-entry form to accounts maintained by the MiniMed\ntransfer agent for tendering shareholders whose Medtronic ordinary shares were\naccepted in the exchange offer. Checks in lieu of fractional shares of MiniMed\ncommon stock will be delivered after the exchange agent has aggregated all\nfractional shares and sold them in the open market.\n\nGoldman Sachs & Co. LLC and BofA Securities, Inc. served as dealer\nmanagers for the exchange offer.\n\nAbout Medtronic\nBold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered\nin Galway, Ireland, is the leading global healthcare technology company that\nboldly attacks the most challenging health problems facing humanity by\nsearching out and finding solutions. Our Mission — to alleviate pain,\nrestore health, and extend life — unites a global team of 95,000+ passionate\npeople across more than 150 countries. Our technologies and therapies treat 70\nhealth conditions and include cardiac devices, surgical robotics, insulin\npumps, surgical tools, patient monitoring systems, and more. Powered by our\ndiverse knowledge, insatiable curiosity, and desire to help all those who need\nit, we deliver innovative technologies that transform the lives of two people\nevery second, every hour, every day. Expect more from us as we empower\ninsight-driven care, experiences that put people first, and better outcomes\nfor our world. In everything we do, we are engineering the extraordinary.\n\nCautions Regarding Forward Looking Statements\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995, which are subject to\nrisks and uncertainties, including risks related to the expected effects on\nMedtronic and MiniMed of the exchange offer, the anticipated benefits of the\nexchange offer, Medtronic's ability to successfully realize the anticipated\nbenefits from the separation (including consummating the transaction on a\nbasis that is generally tax-free to shareholders for U.S. federal income tax\npurposes), MiniMed's ability to succeed as an independent publicly traded\ncompany, competitive factors, difficulties and delays inherent in the\ndevelopment, manufacturing, marketing and sale of medical products, government\nregulation, geopolitical conflicts, changing global trade policies, general\neconomic conditions, and other risks and uncertainties described in\nMedtronic's and MiniMed's periodic reports on file with the SEC including\ntheir most recent respective Annual Reports on Form 10-K and Quarterly Reports\non Form 10-Q. In some cases, you can identify these statements by\nforward-looking words or expressions, such as \"anticipate,\" \"believe,\"\n\"could,\" \"estimate,\" \"expect,\" \"forecast,\" \"intend,\" \"looking ahead,\" \"may,\"\n\"plan,\" \"possible,\" \"potential,\" \"project,\" \"should,\" \"going to,\" \"will,\" and\nsimilar words or expressions, the negative or plural of such words or\nexpressions and other comparable terminology. Actual results may differ\nmaterially from anticipated results. Medtronic does not undertake to update\nits forward-looking statements or any of the information contained in this\npress release, including to reflect future events or circumstances.\n\nContacts:\nJustin Paquette\nPublic Relations\n+1-612-271-7935\n\nIngrid Goldberg\nInvestor Relations\n+1-763-505-2696\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/medtronic-announces-final-results-of-minimed-group-inc-exchange-offer-302908450.html\n(https://www.prnewswire.com/news-releases/medtronic-announces-final-results-of-minimed-group-inc-exchange-offer-302908450.html)\n\nSOURCE Medtronic plc\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS974964/Medtronic-Logo.jpg?id=OA3017715\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-10-14T12:00:00.663010033Z","server_sent_at_ms":1791979200663},"received_at":"2026-10-14T12:00:00.715Z","source_url":"https://www.prnewswire.com/news-releases/medtronic-announces-final-results-of-minimed-group-inc-exchange-offer-302908450.html"},"analysis":{"id":"157042","press_release_id":"168778","analysis_json":{"industry":{"label":"Health Care Equipment & Supplies","sector":"Health Care"},"redFlags":["exchange offer heavily oversubscribed (297.5M tendered vs 55.0M accepted) — strong shareholder preference for MiniMed over MDT"],"eventType":"m_and_a","narrative":"Medtronic announced final results of its exchange offer separating its remaining stake in MiniMed Group, which was oversubscribed and expired October 9, 2026.\n\nMedtronic will exchange its entire remaining interest — 252,813,348 MiniMed shares — for 55,032,401 Medtronic ordinary shares, with a final proration factor of 18.289133% applied to tendered shares other than odd-lot positions.\n\nAfter completion, Medtronic will retain no MiniMed shares, fully concluding the separation; roughly 297.5 million Medtronic shares were validly tendered versus 55.0 million accepted, signaling strong shareholder demand to exit MDT into MiniMed.","sentiment":"neutral","agentHooks":{"shouldPost":true,"suggestedAngle":"MiniMed exchange offer oversubscribed ~5.4x — heavy shareholder demand to swap MDT for the diabetes spinoff; watch MDT flow-back dynamics."},"keyFigures":{"customDimensions":{"proration_factor":"18.289133%","mdt_shares_accepted":55032401,"minimed_shares_exchanged":252813348,"mdt_shares_validly_tendered":297521390,"odd_lot_shares_not_prorated":757890,"shares_subject_to_proration":296763500}},"namedEntities":{"people":[],"products":["MiniMed"],"companies":[{"name":"Medtronic plc","ticker":"MDT","relationship":"filer / parent company"},{"name":"MiniMed Group, Inc.","ticker":"MMED","relationship":"spun-off subsidiary"},{"name":"Equiniti Trust Company, LLC","relationship":"exchange agent"},{"name":"Goldman Sachs & Co. LLC","relationship":"dealer manager"},{"name":"BofA Securities, Inc.","relationship":"dealer manager"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Mechanical final results of the previously announced MiniMed separation exchange offer; the strategic separation was already known and this release confirms oversubscription and proration details rather than new strategic news."},"tickerRelevance":{"others":[{"ticker":"MMED","relevance":"subsidiary"}],"primary":"MDT"},"globalImportance":45,"audienceRelevance":55,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mega-cap","eventGravity":"spinoff-completion mechanics","eventGravityNote":"final results of already-announced separation; modest incremental news","householdBrandBoost":true,"retailFavoriteBoost":false}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Medtronic announced final results of its exchange offer separating its remaining stake in MiniMed Group, which was oversubscribed and expired October 9, 2026.\n\nMedtronic will exchange its entire remaining interest — 252,813,348 MiniMed shares — for 55,032,401 Medtronic ordinary shares, with a final proration factor of 18.289133% applied to tendered shares other than odd-lot positions.\n\nAfter completion, Medtronic will retain no MiniMed shares, fully concluding the separation; roughly 297.5 million Medtronic shares were validly tendered versus 55.0 million accepted, signaling strong shareholder demand to exit MDT into MiniMed.","key_figures":{"customDimensions":{"proration_factor":"18.289133%","mdt_shares_accepted":55032401,"minimed_shares_exchanged":252813348,"mdt_shares_validly_tendered":297521390,"odd_lot_shares_not_prorated":757890,"shares_subject_to_proration":296763500}},"named_entities":{"people":[],"products":["MiniMed"],"companies":[{"name":"Medtronic plc","ticker":"MDT","relationship":"filer / parent company"},{"name":"MiniMed Group, Inc.","ticker":"MMED","relationship":"spun-off subsidiary"},{"name":"Equiniti Trust Company, LLC","relationship":"exchange agent"},{"name":"Goldman Sachs & Co. LLC","relationship":"dealer manager"},{"name":"BofA Securities, Inc.","relationship":"dealer manager"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-14T12:00:10.474Z","global_importance":45,"audience_relevance":55,"importance_components":{"tickerTier":"mega-cap","eventGravity":"spinoff-completion mechanics","eventGravityNote":"final results of already-announced separation; modest incremental news","householdBrandBoost":true,"retailFavoriteBoost":false}},"durationMs":9727,"modelName":"glm-5.3-flashx"}}