Medtronic In Talks To Combine With Covidien In $45 Billion Deal: Source
A source familiar with the matter said on Saturday, Medical-device maker Medtronic Inc and rival Covidien, are in advanced talks to combine in a deal valued at $45 billion to $50 billion. The person said, asking not to be named because the matter is not public, the deal, which would allow Medtronic to be domiciled in Ireland where Covidien is based and thus take advantage of lower tax rates, could come as soon as Monday. Minneapolis-based Medtronic, which makes cardiovascular and orthopedic devices, has a market value of about $61 billion.
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