The Danish forward, 32, had been a free agent following his departure from the Reebok Stadium at the end of last season. Doubts were raised over the move due to a long-term Achilles injury, but he passed a medical on Friday before putting to pen to paper on Monday.
A statement on Hull´s website said: "City have completed the signing of Danish striker Henrik Pedersen on a two-year deal. Pedersen passed a medical at the club on Friday before completing his move on Monday afternoon."
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