Medtronic Inc., which, after six months of failed negotiations, finally went public last week with a bid for Cyberonics Inc., may now step away from the deal, said Medtronic Chief Financial Officer Robert Ryan. “There is no next step for us. The next step has to come from Cyberonics,” said Ryan. He added that the Cyberonics board rejected the most recent offer before its shareholders understood what was at stake, and since the offer was revealed, he had been besieged by calls from Cyberonics’s shareholders.
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