【U.S. Stock Movement】MiniMed Group surged on October 15: spin-off completed, Medtronic exit, diabetes devices

MiniMed Group October 15 Surge Explained

Keywords: Spin-off completed, Medtronic exit, diabetes devices

1. On October 15, MiniMed announced the completion of its spin-off from Medtronic, becoming an independent company, and stated it will focus on advancing its diabetes care business.

2. On October 14, Medtronic announced the final results of the share swap offer: the offer was oversubscribed by 5.4 times, and Medtronic exchanged the remaining 252,813,348 MiniMed shares for 55,032,401 Medtronic ordinary shares; after the spin-off, Medtronic no longer holds any MiniMed shares.

3. On October 13, Rothschild & Co Redburn initiated coverage on MiniMed with a "Buy" rating and a target price of $30.

(Disclaimer: This content is generated using AI technology from publicly available information for reference only and does not constitute investment advice.)