U.S. Stocks in Motion | Launching MiniMed (MMED.US) share exchange spin-off, Medtronic (MDT.US) rises over 2.5% against the market trend.

Zhitong Finance APP has learned that medical technology giant Medtronic (MDT.US) announced the launch of a share exchange offer, planning to complete a further spin-off of its former diabetes business MiniMed Group (MMED.US) by exchanging shares with existing shareholders. Under the plan, Medtronic will divest at least 80.1% of its stake in MiniMed, thereby further reducing its shareholding in this already-listed company.