Ev3 Inc (EVVV. O), a maker of stents and other vascular devices, is being planned to be acquired by Medical products maker Covidien Plc (COV. N) at the cost of $2.6 billion. The closing price of ev3 was $18.92 on Friday, and the above deal corresponded to a 19% premium over this closing price, at $22.50 per share. These devices will help the Company to add medical aids for the heart diseases.

In the premarket trading, the stock mounted to 17.7% to $22.27. Covidien Chief Executive Officer Richard Meelia said, "The deal is in line with our strategy of becoming a leading partner with vascular surgeons, neurosurgeons, interventional cardiologists and interventional radiologists".

The deal is expected to close by the end of July, and Covidien projects it to hurt earnings in 2010 and 2011. In the fiscal year of 2010, the agreement is likely to trim down non-GAAP earnings by 5 cents to 8 cents per share; and by 10 cents to 15 cents in the financial year of 2011.

Also, the Company said that some confidentially held PH Invest were getting its sleep therapy product line for an unrevealed amount.