Medtronic Announces Preliminary Results of MiniMed Group, Inc. Exchange Offer

Impact · against what's priced in

The oversubscribed exchange offer confirms the divestiture of MiniMed is proceeding as planned, but provides no immediate catalyst for MDT as the market had already discounted the separation upside. MMED begins its trajectory as a standalone entity with strong initial investor demand.

MDT+0.00

Already priced in

The price assumes

Diabetes Group double-digit growth and MiniMed separation optionality