Covidien / Mallinckrodt / Medtronic

Medtronic Inc. and Covidien plc are now combined under Medtronic plc.

Medtronic

The Tyco Group story gets more full of twists and turns, as on the 28th June 2013 Mallinckrodt was spun out of Covidien Plc, and 1 share was issued in Mallinckrodt for each 8 shares in Covidien held by shareholders of Covidien on the 19th June 2013.

Covidien has now been bought by Medtronic and so if the deceased held only Covidien shares we have to deal with the usual conversion into Medtronic shares. Covidien shares were bought on the basis of 0.956 Medtronic share for each Covidien share and a cash sum of US$35.19 per Covidien share.

As Mallinckrodt is based in Ireland, we now have to use a special Transfer Request Form claiming exemption from Ireland Dividend Withholding Tax. If you don’t use the correct form Computershare will reject the transfer.

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