Medtronic to buy Covidien for $42.9 billion, rebase in Ireland (Reuters)
(Reuters) - U.S. medical device maker Medtronic Inc (MDT.N) said on Sunday it had agreed to buy Covidien Plc (COV.N) 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
"The real purpose of this, in the end, is s...
