Medtronic To Purchase Covidien For Nearly $43 Billion

Medtronic To Purchase Covidien For Nearly $43 Billion
(Minneapolis, MN) -- Minneapolis-based Medtronic is getting bigger. The medical device company is purchasing Covidien for 42-point-nine billion dollars in cash and stock. The "Boston Globe" reports the buyout is one of the largest takeovers ever of a Massachusetts-based company. While Covidien has its corporate headquarters in Massachusetts, it's incorporated in Ireland to take advantage of considerably lower corporate tax rates.