U.S. medical device maker Medtronic Inc said on Sunday it would purchase Covidien Plc for $42.9 billion in cash and stock, moving its executive base to Ireland in the latest transaction to seek lower corporate tax rates abroad. Medtronic said it would keep its operational headquarters in Minneapolis and pledged $10 billion in U.S. technology investments over the next 10 years.
Covidien Public Limited Company is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Shares of COV fell by 0.03% or $-0.02/share to $72.02. In the past year, the shares have traded as low as $53.05 and as high as $73.80. On average, 1943330 shares of COV exchange hands on a given day and today's volume is recorded at 829914.
Medtronic, Inc. (Medtronic) is engaged in medical technology - alleviating pain, restoring health, and extending life for millions of people worldwide. Shares of MDT fell by 0.15% or $-0.09/share to $60.70. In the past year, the shares have traded as low as $51.06 and as high as $64.33. On average, 4298760 shares of MDT exchange hands on a given day and today's volume is recorded at 2085267.
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