Medtronic, Inc. and Kyphon, Inc. Announce Clearance from German Federal Cartel Office for the Merger of Medtronic, Inc. and Kyphon, Inc.

MINNEAPOLIS & SUNNYVALE, Calif.--(BUSINESS WIRE)--Medtronic, Inc. (NYSE:MDT) and Kyphon Inc. (Nasdaq:KYPH) announced today that the German Federal Cartel Office has given its clearance in connection with the previously announced merger agreement between Kyphon and Medtronic, Inc. Completion of the transaction, which is expected later this year or in the first quarter of 2008, remains subject to obtaining approvals of antitrust authorities in several other jurisdictions, the approval of Kyphon’s stockholders and other customary closing conditions. A special meeting of Kyphon’s stockholders to vote on the proposed merger has been called for October 16, 2007. If further antitrust clearances are obtained prior to the Kyphon stockholders' meeting, the companies will provide an update at the time of the meeting.