MINNEAPOLIS--(BUSINESS WIRE)--Medtronic, Inc., (NYSE:MDT) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation of Toronto for TRC to purchase up to two million shares, or less than .2 percent of the outstanding Medtronic common stock, at a price of $47.75 per share. This represents a 2.73 percent discount below Medtronic’s closing price on October 11, 2006 (the day before TRC commenced its offer) and a 1.79 percent discount below Medtronic’s closing price on October 13, 2006.
