Davis Polk is advising Perella Weinberg as financial adviser to HeartWare International, Inc. in connection with its $1.1 billion acquisition by Medtronic plc. Under the terms of the transaction, Medtronic will commence a tender offer for all outstanding shares of HeartWare common stock for $58.00 per share in cash. The boards of directors of both Medtronic and HeartWare have unanimously approved the transaction. The acquisition is expected to close during Medtronic’s second fiscal quarter ending Oct. 28, 2016, subject to the satisfaction of customary closing conditions.

HeartWare International, Inc. is a leading innovator of less-invasive, miniaturized circulatory support technologies for the treatment of advanced heart failure. Medtronic plc is a worldwide leader in cardiovascular device technologies with expertise in the development of implantable systems and battery technologies, patient monitoring, manufacturing, global regulatory policy and commercialization.

The Davis Polk corporate team includes partner Phillip R. Mills and associate Andrew D. Krause. All members of the Davis Polk team are based in the New York office.

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