Covidien plc’s shareholders aren’t the only people who stand to make a hefty profit if the company is sold as planned for $43 billion to Medtronic: Financial filings also indicate that the local medical device maker’s senior executive team is in line for a windfall if they part from the newly merged company once the deal is done.
According to recent filings with the Securities and Exchange Commission, Covidien’s top-five executives stand to reap approximately $80 million in cash and equity payments if the they are terminated from the company after a change in control. The potential payouts would include accelerated salaries, bonuses and vested equity awards that average out to approximately $16 million per executive.
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