Avecor Shareholders Approve Medtronic Deal

Shareholders of Avecor Cardiovascular Inc. have approved the company's acquisition by medical device maker Medtronic Inc. Avecor said in a statement it anticipates completion of the merger transaction, valued at about $91 million, after clearance from the U.S. Federal Trade Commission. Medtronic agreed to acquire Avecor in mid-July.

The company said that about 63% of its 8.05 million shares were represented at the meeting and 99% of those shares were voted in favor of the merger.

Avecor develops, manufactures and markets specialty medical devices for heart/lung bypass surgery and long-term respiratory support.