Medtronic To Buy Covidien For $43 Billion In Cash

[apboy]

http://money.cnn.com/2014/06/15/investing/medtronic-covidien/

Medical device maker Medtronic has agreed to buy rival Covidien for $42.9 billion in a deal that could reduce the firm's tax payments.
Covidien shareholders will be paid $93.22 per share, a 29% premium over the company's closing stock price on Friday.
Medtronic said the combined company will be headquartered in Ireland, where Covidien is based. Medtronic had been based in Minneapolis.
The proposed merger is the latest in a series of transactions that have allowed U.S. companies to relocate their headquarters to countries with lower tax rates. Ireland's main tax rate for corporations is 12.5%; the 35% U.S. federal rate is among the highest in the world.