BUZZ - Medtronic shares rise due to oversubscription of MiniMed stock swap offering

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路透社2026/10/12 16:26

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October 12 - ** Medical device manufacturer Medtronic (MDT.N) shares rose by 2.8% to $90

** Medtronic said its previously announced offer to exchange MDT shares for MiniMed shares was oversubscribed (link)

** After the completion of this share exchange offer, Medtronic will no longer hold any outstanding MiniMed shares

** Medtronic first announced last year its plan to spin off its diabetes business, called the MiniMed Group MMED.O (link)

** MiniMed shares fell by 4.3% to $19, about 5% lower than the IPO issue price of $20 on March 6

** Including today’s move, MDT shares have fallen a total of 5.1% so far this year

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According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.

华尔街见闻•2026/10/12 20:41