Medtronic Terminates Acquisition of EOFlow, Citing Breaches in Agreement
07 December 2023 - 9:11AM
Dow Jones News
By Denny Jacob
Medtronic notified EOFlow that it terminated its plans to
acquire the company, citing multiple breaches under their prior
agreement.
Medical technology company Medtronic said it doesn't believe any
termination fee is payable under their agreements, according to a
regulatory filing. Medtronic entered into a set of agreements to
acquire EOFlow on May 25.
Medtronic said the termination doesn't affect its fiscal 2024
adjusted earnings per-share guidance range between $5.13 and $5.19
issued on Nov. 21.
EOFlow didn't immediately respond to a request for comment.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
December 06, 2023 16:56 ET (21:56 GMT)
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