MINNEAPOLIS & SUNNYVALE, Calif.--(BUSINESS WIRE)--Medtronic, Inc. (NYSE:MDT) and Kyphon Inc. (Nasdaq:KYPH) announced today, in connection with their previously announced intention to provide a regulatory update at the time of the Kyphon stockholders’ special meeting, that antitrust clearances in Spain, Austria and Cyprus have been obtained in connection with the previously announced merger agreement between Medtronic and Kyphon. Consummation of the transaction remains subject to customary closing conditions, including receipt of stockholder approval and clearance from antitrust authorities in Portugal and Turkey. The initial statutory review periods in both of these jurisdictions are scheduled to expire later this month unless the antitrust authorities extend the relevant periods. The parties intend to consummate the transaction reasonably promptly following the receipt of the required antitrust clearances in Portugal and Turkey and the satisfaction of the other customary closing conditions contained in the merger agreement, but in no event prior to November 1. A special meeting of Kyphon’s stockholders to vote on the proposed merger has been called for October 16, 2007.
