Medtronic in talks for $40B+ Covidien deal

|About: Medtronic plc (MDT)|By:, SA News Editor

Medtronic (MDT) is in advanced talks to buy Covidien (COV) for more than $40B. The deal could be announced as early as tomorrow.

The tax inversion will allow Medtronic to be domiciled in Ireland, where Covidien is based, and permit the company to pay a lower corporate tax rate.

Medtronic has a current market value of $61B, and Covidien is valued at $32B.