Covidien agreed to pay $22.50 per share in cash, or $2.6 billion, for EV3 and will merge the company with its vascular intervention product line. The Covidien-EV3 deal would be the largest merger involving a Minnesota company since Delta Air Lines acquired Northwest Airlines in 2008 for $2.8 billion. It would be the largest merger among Minnesota-based med-tech companies since Medtronic Inc. bought Kyphon Inc. of Sunnyvale, Calif., in 2007 for $3.6 billion.
ev3 Inc.
Headquarters: Plymouth
Business: Develops medical devices for the endovascular treatment of peripheral vascular and neurovascular diseases.
Employees: 1,350
Minnesota employees: 566
CEO: Robert Palmisano
Founded: 2000
Annual revenue: $449.1 million
