Medtronic shareholders voted to approve the Covidien acquisition today.
"We are convinced that the addition of Covidien's people and technologies will allow us to expedite our strategic initiatives and will allow us to treat more people, in more ways and in more places around the world."
Here are five key concepts:
1. The proposal to adopt the transaction agreement and approve the merger was approved. Shareholders owning approximately 95.66 percent of the shares voted at the meeting.
2. The company plans to file the final vote results on a Form 8-K with the Securities and Exchange Commission on Jan. 9.
3. Covidien shareholders also approved the transaction today.
4. Both companies expect the transaction to close in the last week of January or early February. The transaction is still subject to approval by the High Court of Ireland.
5. Medtronic has previously announced plans to merge the two companies into one — Medtronic plc — and move headquarters overseas to Covidien's current residence in Ireland.