Covidien (NYSE:COV) said today that it will likely divest some of its vascular therapies business to satisfy U.S. anti-trust regulators ahead of its proposed, $43 billion merger with Medtronic (NYSE:MDT).*
The divestitures prompted Mansfield, Mass.-based Covidien to log a pre-tax impairment charge of $90 million to $125 million with its 4th-quarter results, according to a regulatory filing.
“On Oct. 20, 2014, Covidien plc’s management concluded that a non-cash charge was required for the impairment of non-amortizable in-process research and development projects associated with its vascular therapies product line,” according to the filing. "
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