The exchange process, which closed at midnight on October 9, resulted in Medtronic accepting 55,032,401 of its own ordinary shares in return for the entirety of its 252,813,348-share stake in MiniMed. Because the offer drew interest far exceeding available supply, the company implemented a proration mechanism for most participants. Investors holding fewer than 100 shares—classified as odd-lot shareholders—were exempted from this reduction and will have their tenders fully accepted.

Equiniti Trust Company, serving as the exchange agent, reported that 297,521,390 shares were validly tendered. Non-accepted shares will be returned to investors in book-entry form, while newly issued MiniMed stock will be credited to successful participants. Goldman Sachs & Co. LLC and BofA Securities acted as dealer managers for the transaction, marking Medtronic's complete divestiture from the MiniMed business unit.