- 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.
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