Ireland’s tax laws lure another US company. Minneapolis-based Medtronic, one of the biggest medical device makers in the world, agreed to buy Dublin-based Covidien, for $42.9 billion.

Ireland’s tax laws lure another US company. Minneapolis-based Medtronic, one of the biggest medical device makers in the world, agreed to buy Dublin-based Covidien, for $42.9 billion.

The price, at $93.22 per share, was almost a third higher than Covidien’s New York closing price on Friday. The new company, called Medtronic Plc, will be based in Ireland, which will exclude $14 billion in cash from US taxes.

http://www.bloomberg.com/news/2014-06-16/medtronic-to-buy-device-maker-covidien-for-42-9-billion.html

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