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Medtronic Chairman and Chief Executive Omar Ishrak speaks at the Reuters Health Summit in New York May 7, 2013. CREDIT: REUTERS/BRENDAN MCDERMID

Medtronic to buy Covidien for $42.9 billion, rebase in Ireland

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U.S. medical device maker Medtronic said on Sunday it had agreed to buy Covidien for $42.9 billion in cash and stock and move its executive base to Ireland in the latest transaction aiming for lower corporate tax rates abroad.

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