NEW YORK: US medical device maker Medtronic Inc is in advanced talks to buy rival Covidien Plc in a deal valued at US$45bil to US$50bil, people familiar with the matter said on Saturday.
The deal, which would allow Medtronic to be domiciled in Ireland, where Covidien was based, and thus take advantage of lower tax rates, could come as soon today, one person said, asking not to be named because the matter is not public.
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