InsideArbitrage September 2026 Mid-Month Update – The Medtronic and MiniMed Split-off

MiniMed Group (MMED): $22.40

Market Cap: $6.29B

Enterprise Value: $6.03B

In a move reminiscent of the Austin Powers movie from 1999 that introduced the character Mini-Me, a sidekick of Dr. Evil, the medical devices giant Medtronic (MDT) decided to name its diabetes business spinoff MiniMed (MMED). Instead of a traditional spinoff where shareholders would receive stock in the spinoff, Medtronic decided to go ahead with an IPO of MiniMed on March 6, 2026 at a price of $20 per share. The stock closed its first day of trading at $18.49 and currently trades at $22.40 per share.

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