Medtronic, Kyphon merger gets German clearance

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The German Federal Cartel Office has given Medtronic and Kyphon its clearance in connection with the previously-announced merger between the two companies.

Completion of the transaction, expected later this year or in the first quarter of 2008, remains subject to obtaining approvals of antitrust authorities in several other jurisdictions, the approval of Kyphon's stockholders and other customary closing conditions.

A special meeting of Kyphon's stockholders to vote on the proposed merger has been called for Oct. 16. If further antitrust clearances are obtained prior to the Kyphon stockholders' meeting, the companies will provide an update at the time of the meeting.