Medtronic in talks to combine with Covidien in $45 bln deal -source

June 14 Sat Jun 14, 2014 1:11pm EDT

June 14 (Reuters) - U.S. medical device maker Medtronic Inc is in advanced talks to merge with rival Covidien Plc in a deal valued at between $45 billion and $50 billion, a person familiar with the matter said on Saturday.

The deal, which would allow Medtronic to be domiciled in Ireland where Covidien is based and thus take advantage of lower tax rates, could come as soon as Monday, the person said, asking not to be named because the matter is not public.

The discussions could still fall apart at the last minute. Representatives for Medtronic and Covidien could not be immediately reached for comment.

(Reporting by Soyoung Kim in New York; Editing by Eric Beech)

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