How the Medtronic deal with Covidien puts spotlight on corporate taxes
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Medtronic's plans to buy an Ireland-based competitor are raising questions about tax policy. The Minnesota-based medical device company on Sunday announced a $43 billion agreement to buy Covidien, which specializes in surgical equipment.
• Medtronic says Covidien deal keeps 1,000 jobs in Minnesota
• Medtronic's Irish deal reopens Minnesota tax debate
Medtronic officials say the deal was driven by a strategic fit between the two companies. But the acquisition could also bring tax benefits for the company. The combined firms will be headquartered in Ireland, which is known for having a relatively low corporate tax rate. MPR's Cathy Wurzer spoke with Vanessa Houlder, tax correspondent for the Financial Times, who's written about Ireland's role in what's called tax "inversion."
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