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IRS Escape: Medtronic, Inc. (MDT) Looks To Succeed Where Pfizer Inc. (PFE) Failed



6/16/2014 6:49:41 AM

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Medical device giant Medtronic looks as if it will succeed where the drug behemoth Pfizer failed: it is acquiring a rival in large part to move its tax domicile out of the United States, lowering its tax rate. Medtronic announced Sunday that it has agreed to purchase Dublin, Ireland’s Covidien for $42.9 billion in cash and stock.

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