Shareholders Approve Medtronic-Covidien Deal

Covidien is one step closer to a merger with Minnesota-based Medtronic.

Shareholders for Medtronic approved the company’s $43 billion purchase of Covidien on Tuesday, placing the closure of the deal only weeks away according to the Wall Street Journal.

Shareholders for Ireland’s Covidien, whose American headquarters is located in Mansfield, have also approved the deal according to the company. Approval from Ireland’s High Court represents the final obstacle for the merger.

The merger will combined two of the biggest medial supply companies in the world. The merger will allow Medtronic to redomicile in Ireland once the merger is complete in order to take advantage of Ireland’s lower corporate tax rate.

With the merger approaching completion, it is still unknown what will happen to the 1,000-person staff at Covidien’s Mansfield office.