Shareholder Files Class Action Lawsuit To Block Covidien-Medtronic, Inc. Merger

A Covidien (NYSE:COV) shareholder yesterday filed a purported class action lawsuit seeking to block the medical device company's pending $43 billion merger with Medtronic (NYSE:MDT).

Richard Taxman accuses Covidien, its board of directors and chairman, president & CEO José Almeida of breaching their fiduciary duties in agreeing to the acquisition, which values COV shares at $93.22 apiece.

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