BRIEF-CEO Ishrak says Medtronic will pay significant U.S. taxes after Covidien deal

CHICAGO Tue Aug 19, 2014 8:34am EDT

CHICAGO Aug 19 (Reuters) - Medtronic Inc : * CEO Ishrak says company will continue to pay significant U.S. taxes after

Covidien deal closes * Medtronic's Ishrak says company expects to pay similar rate of U.S. taxes

after it acquires Covidien * Ishrak says new corporate structure will allow Medtronic to invest much more

aggressively in the U.S. * Ishrak says new investments will result in more high-paying U.S. jobs * Ishrak: "our level of U.S. job creation will only accelerate following this

transaction" * Ishrak: Covidien acquisition is good for patients, good for medical

technology industry, good for U.S. economy

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Comments (1)
VernonDozier wrote:
Sounds like these two American Companies’ executives aren’t sure they should combine efforts due to taxes.

That’s unfortunate. However, it seems they may need a proud American in the CFO seat whom instead of comparing numbers says “We’re American, this is the cost of doing business in America”.

Alternatively, they could certainly walk away from the deal or appoint the CFO to the CEO role. This way, the accountant could can lead Marketing, PR and Investor Relations efforts.

Still today, I believe some companies hired the wrong CFO. American Business and Industry isn’t a bank. If they hired someone who think the company should operate as a financial institution or bank, they may need to solicit resumes to backfill that board-member’s seat.

Aug 19, 2014 11:18am EDT  --  Report as abuse
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