COV +6.5% MDT 3.6%
Medtronic to Use ~$16b External Financing to Complete COV Deal
2014-10-03 13:27:17.276 GMT
By Sasha Damouni
Oct. 3 (Bloomberg) -- Medtronic intends to use ~$16b in
external financing to complete acquisition of Covidien, rather
than using cash from its foreign subsidiaries as previously
planned.
* All terms, conditions of reached between the two companies
in June remain unchanged
* Deal to be neutral to Gaap earnings by FY 2019
* Deal still seen adding to cash earnings in FY 2016
* Says FY 2015 rev., EPS forecast unaffected
* NOTE: Medtronic May Use New Debt to Pay for Covidien
Purchase: BofA
* Shrs up pre-mkt
Link to Statement:NSN NCVE4X3HBS3K <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sasha Damouni in New York at +1-212-617-7787 or
sdamouni2@bloomberg.net
To contact the editors responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
Sasha Damouni
2014-10-03 13:27:17.276 GMT
By Sasha Damouni
Oct. 3 (Bloomberg) -- Medtronic intends to use ~$16b in
external financing to complete acquisition of Covidien, rather
than using cash from its foreign subsidiaries as previously
planned.
* All terms, conditions of reached between the two companies
in June remain unchanged
* Deal to be neutral to Gaap earnings by FY 2019
* Deal still seen adding to cash earnings in FY 2016
* Says FY 2015 rev., EPS forecast unaffected
* NOTE: Medtronic May Use New Debt to Pay for Covidien
Purchase: BofA
* Shrs up pre-mkt
Link to Statement:NSN NCVE4X3HBS3K <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sasha Damouni in New York at +1-212-617-7787 or
sdamouni2@bloomberg.net
To contact the editors responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
Sasha Damouni