The White House is looking to clamp down on companies that relocate their headquarters overseas in order to benefit from lower tax rates, a measure that could have implications for Medtronic’s $43 billion mega-merger with Covidien.
Part of the Medtronic-Covidien deal includes shifting Medtronic’s official headquarters from Minnesota to Covidien’s base in Ireland, allowing Medtronic to take advantage of the country’s more favorable corporate tax rate in a move called a corporate inversion.
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