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Medtronic Inc

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  • AbbVie, Shire agree on $55B combination Friday, 18 Jul 2014 | 6:43 AM ET

    The drugmaker AbbVie has reached a deal worth roughly $55 billion to combine with British counterpart Shire and become the latest U.S. company to seek an overseas haven from tax rates back home. But the new company will be controlled by shareholders of North Chicago, Illinois- based AbbVie, who will own about 75 percent of the new company's stock.

  • July 17- U.S. orthopedics company Stryker Corp on Thursday reported slightly higher second-quarter profit that was in line with Wall Street expectations and said it was always in the market for deals. In the most recent such deal in the medical device sector, Medtronic Inc last month agreed to buy Covidien for $43 billion.

  • UPDATE 2-St. Jude not keen to join inversion deal craze Wednesday, 16 Jul 2014 | 3:39 PM ET

    In the most recent such deal in the medical device sector, Medtronic Inc last month agreed to buy Covidien for $43 billion. The move will allow Medtronic to re-domicile to Ireland to take advantage of low corporate tax rates and to access cash overseas without having to pay high repatriation costs.

  • Treasury Secretary Jacob Lew urged Congress on Wednesday to take steps quickly to discourage U.S. companies from moving their tax domiciles abroad to avoid federal taxes. "Congress should enact legislation immediately," Lew told a business conference in New York hosted by cable television channel CNBC.

  • FACTBOX-M&A frenzy transforming global pharma Monday, 14 Jul 2014 | 9:27 AM ET

    July 14- Several multi-billion dollar deals and bids have made 2014 a busy year for healthcare acquisitions, despite Pfizer pulling its $118 billion offer for AstraZeneca.

  • July 11- Medical device maker Covidien Plc said it recorded a pre-tax charge of about $180 million for the third quarter, related to litigation against some manufacturers of pelvic mesh products. Covidien said it was indemnifying the manufacturer on certain claims.

  • July 11- Medical device maker Covidien Plc said it recorded a pre-tax charge of about $180 million for the third quarter, related to litigation against some manufacturers of pelvic mesh products. The company's two units supplied pelvic mesh products to one of the manufacturers named in the lawsuit and is indemnifying that manufacturer on certain claims.

  • Medical technology group Medtronic Inc said last month that it plans to buy Covidien Plc, a rival based in low-tax Ireland. The research service said other inversions have been done in the past decade by Mallinckrodt Pharmaceuticals, Perrigo Co Plc, Actavis Plc and other companies, many of them rebasing for tax purposes to Ireland.

  • What do the Twin Cities have the rest of us don't? Wednesday, 2 Jul 2014 | 3:50 PM ET

    Amid a soft economy, one pocket of America is doing very well—the Twin Cities of Minneapolis and St. Paul, Minnesota. What's their secret sauce?

  • July 2- St. Jude Medical Inc said the U.S. Food and Drug Administration notified the company that issues regarding its Sylmar, California- based manufacturing plant have been resolved. The FDA last year had warned St.

  • Walgreens

    Walgreen's chief, who said he was "proud of our Illinois heritage," is considering a deal that would move its HQ to Switzerland in a bid to cut taxes.

  • Let's make a deal! Global M&A at 7-year high Monday, 30 Jun 2014 | 6:21 AM ET
    Viagra made by Pfizer and Nexiam made by AstraZeneca.

    Investor support for large acquisitions and a desire to trump rivals in consolidating markets have led CEOs to strike big transactions in 2014.

  • NEW YORK, June 30- Investor support for large acquisitions and a desire to trump rivals in consolidating markets have led chief executives to strike big transactions so far in 2014, raising year-to-date global deal volumes to their highest level in seven years.

  • Aging stinks, so at least make some money from it Monday, 23 Jun 2014 | 8:00 AM ET

    The US population is getting grayer, and while getting old stinks, there are plenty of ways to profit from an aging demographic using ETFs.

  • SAN FRANCISCO, June 23- For decades, medical technology firms have searched for ways to let diabetics check blood sugar easily, with scant success.

  • Midday movers: Alstom, CarMax, Sprint & More Friday, 20 Jun 2014 | 11:34 AM ET

    Some of Friday's midday movers:

  • BOSTON, June 20- Medtronic Inc, the world's largest stand-alone medical device maker, said on Friday it was the victim of a cyber attack last year.

  • Medtronic says was victim of cyber attack in 2013 Friday, 20 Jun 2014 | 10:52 AM ET

    BOSTON, June 20- Medical device maker Medtronic Inc said in a regulatory filing released on Friday that it was the victim of a cyber attack last year.

  • LONDON, June 20- British drugmaker Shire has rejected a 27 billion-pound takeover offer from AbbVie, the latest attempt by a U.S. healthcare firm to tap into the London- listed group's low tax rate. Abbvie's takeover offer proposed creating a new U.S.-listed holding company with a UK tax domicile in a so-called "inversion" move.

  • Why Minnesota policymakers revamped biz taxes Wednesday, 18 Jun 2014 | 2:07 PM ET
    Dirk Bak

    If there is a silver lining to Minnesota's current business climate, it's that the legislature was forced to repeal biz sales taxes.