Medtronic To Buy Covidien For $42.9 Billion, Rebase In Ireland

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Medtronic To Buy Covidien For $42.9 Billion, Rebase In Ireland

by Wochit 0:36 mins

Medtronic To Buy Covidien For $42.9 Billion, Rebase In Ireland

by Wochit 0:36 mins

U.S. medical device maker Medtronic Inc said on Sunday it had agreed to buy Covidien Plc for $42.9 billion in cash and stock and move its executive base to Ireland in the latest transaction aiming for lower corporate tax rates abroad. While the deal will allow Medtronic to reduce its overall global tax burden, the Minneapolis-based company said it was driven by a complementary strategy with Covidien on medical technology rather than tax considerations

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