Medtronic stock: Exchange offer targets MiniMed separation before October 9 deadline

Medtronic is seeking to complete the separation of MiniMed through a voluntary exchange offer. The transaction is scheduled to expire on October 9, 2026, unless extended or terminated.

Medtronic plc is seeking to complete the separation of MiniMed Group through a voluntary exchange offer for Medtronic ordinary shares. The company announced the offer on September 14, 2026, saying it would split off at least 80.1% of MiniMed’s shares. Medtronic said shareholders may exchange their ordinary shares for MiniMed common stock under the offer’s terms.

Offer terms and timetable

Medtronic is offering to exchange up to 225,361,295 MiniMed shares. The offer provides for a 7% discount to the per-share market value of MiniMed common stock, subject to an upper limit of 4.5939 MiniMed shares for each Medtronic ordinary share accepted. If the upper limit is not in effect, the company said tendering shareholders are expected to receive approximately $107.53 of MiniMed stock for every $100 of Medtronic shares tendered. The offer is scheduled to expire at midnight New York City time on October 9, 2026, unless extended or terminated. The company’s release said the final exchange ratio would be announced on the trading day before expiration.

Filing correction

In a September 17, 2026 Form 8-K, Medtronic corrected the guaranteed-delivery deadline described in the offer prospectus. The filing states that the exchange agent must receive the required materials by 5:00 p.m. New York City time on the second New York Stock Exchange trading day after the notice of guaranteed delivery is executed. The SEC filing identifies Medtronic plc as the registrant and MDT as its NYSE trading symbol.