MINNEAPOLIS & SUNNYVALE, Calif.--(BUSINESS WIRE)--Medtronic, Inc. (NYSE:MDT) and Kyphon (NASDAQ:KYPH) today announced that the companies have signed a definitive merger agreement under which Medtronic will acquire all of the outstanding shares of Kyphon for $71 per share in cash. The transaction, which was unanimously approved by the boards of directors of both companies, is valued at approximately $3.9 billion. This excludes $320 million in payments associated with the St. Francis Medical Technologies, Inc. and Disc-O-Tech Medical Technologies, Ltd. transactions.
