Medtronic to Add Directors After Elliott Becomes Big Shareholder

Medtronic is making changes to its board after Elliott Investment Management became one of its largest shareholders, according to people familiar with the matter. The activist investor and the medical-device maker have been holding friendly talks around how to boost the company’s valuation and build on ongoing plans to focus on core assets. Medtronic plans to announce when it reports quarterly results Tuesday that veteran med-tech executives John Groetelaars and Bill Jellison are joining its board as independent directors, the people said.

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