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June 13, 2014
WSJ Report: Medtronic and Covidien in Talks to Combine
June 14, 2014—The Wall Street Journal is reporting that Medtronic, Inc., is in advanced talks to combine with Covidien PLC. The reported deal would be valued at more than $40 billion if completed. Both companies have large and diverse portfolios in the field of vascular intervention.
The WSJ report cites a source saying the deal would be structured as a part of a so-called tax inversion strategy, whereby one company (eg, US-based Medtronic) acquires or merges with another that is located in a country with a lower corporate tax rate (eg, Ireland-based Covidien). Tax inversion deals are increasingly popular of late, with several major companies in the health care industry attempting some form of them recently.
To read more, visit WSJ (Note: Article is behind a paywall).
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