The deal

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.

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

Net income: $41.9 million

Headquarters: Dublin, Ireland

Business: Makes medical devices, pharmaceuticals and medical supplies. Covidien PLC is a former subsidiary of Tyco International Ltd.

Employees: 42,000

CEO: Richard Meelia

Annual revenue: $10.7 billion

Net income: $907 million