White & Case Advises Bank of America on Medtronic’s Friendly Takeover Bid for Medicrea
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Global law firm White & Case LLP has advised Bank of America on the friendly takeover bid by global medical technology leader Medtronic Group, through its group member Covidien Group, for Medicrea, a pioneer in the transformation of spinal surgery through artificial intelligence with shares listed on Euronext Growth in Paris.
Bank of America acted as presenting bank for the offer, alongside Société Générale which acted as presenting bank and guarantor.
Following the offer, which was filed on September 11, 2020 with the Autorité des Marchés Financiers (the French financial markets authority) and the final results of which were announced on November 10, 2020, the bidder held more than 92 percent of Medicrea's share capital and 91 percent of Medicrea's voting rights. The offer was followed by a squeeze-out and Medicrea’s shares were delisted.
The combination of Medtronic and Medicrea positions Medtronic as the first company to offer an integrated solution including artificial intelligence-driven surgical planning, personalized spinal implants and robotic assisted surgery.
The White & Case team in Paris which advised on the transaction was led by partners Franck De Vita and Séverin Robillard with support from associate Agathe Delalande.
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