Covidien Ltd. announced that its shareholders, at a special meeting held today, have approved a transaction which will effectively change Covidien's place of incorporation from Bermuda to Ireland.

Assuming receipt of the required approval from the Supreme Court of Bermuda, which the Company expects to obtain at a hearing on June 4, 2009, and the satisfaction of certain other conditions, Covidien expects that the transaction will be completed on June 4, 2009. Following completion of the transaction, shares of the Irish company, Covidien plc, will begin trading on the New York Stock Exchange on June 5, 2009, under the symbol "COV," the same symbol under which Covidien Ltd. shares currently trade.

Covidien also announced that shareholders approved at the special meeting the creation of distributable reserves of Covidien plc, which the company expects to be approved by the Irish High Court within three to four weeks after completion of the transaction.