Brief: Medtronic To Acquire Wearable Insulin Patch Maker Eoflow

EOFlow

25/05/2023 13:29

May 25 (Reuters) - EOFlow Co Ltd  294090.KQ :
    * MEDTRONIC TO ACQUIRE WEARABLE INSULIN PATCH MAKER EOFLOW
    * MEDTRONIC PLC - WILL ACQUIRE ALL OF THEIR SHARES IN EOFLOW
AT A
PRICE PER SHARE OF KRW 30,000
    * MEDTRONIC - PURSUANT TO SHARE SUBSCRIPTION AGREEMENT WITH
EOFLOW, CO TO BUY NEW SHARES AT PRICE PER SHARE OF KRW 24,359
    * MEDTRONIC - TOTAL CONSIDERATION FOR ACQUISITION OF SHARES
IN
EOFLOW WOULD BE $738 MILLION AT CURRENT EXCHANGE RATES
    * MEDTRONIC - POST CLOSE, DEAL EXPECTED TO BE LESS THAN 1%
DILUTIVE TO CO'S ADJUSTED EPS IN EACH OF FIRST 3 YEARS, NEUTRAL
TO ACCRETIVE THEREAFTER

Source text for Eikon:  ID:nPnbZxqbRa 
Further company coverage:  294090.KQ 

 ((Reuters.Briefs@thomsonreuters.com;))