This article was originally published in The Gray Sheet
Grosses about $709 mil. from secondary offering of 12.5 mil. shares at $56.75 each on Sept. 18. The offering was necessary "to permit Medtronic to effect a pooling transaction under generally accepted accounting principles in connection with its previously anounced merger with Physio-Control," the firm states ("The Gray Sheet" July 6, p. 3). Proceeds are tabbed for "general corporate purposes, including acquisitions." Underwriters Goldman Sachs, Morgan Stanley Dean Witter, BT Alex. Brown, J.P. Morgan Securities, PaineWebber, Dain Rauscher Wessels and Piper Jaffray hold an overallotment option of about 1.9 mil. shares
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