MarketFoolery: 06.16.2014
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 16 June 2014
⏱️ 17 minutes
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Summary
US-based Medtronic buys Ireland-based Covidien in a cash-and-stock deal worth $43 billion. In doing so, the world’s largest medical device maker not only gets bigger, but will be paying lower taxes as it moves its corporate headquarters to Ireland. Plus, we recommend a few writers to help you build your financial dream team.
Transcript
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| 0:00.0 | It's Monday, June 16th. |
| 0:04.0 | Welcome to Mark Foolery. |
| 0:05.0 | I'm Chris Hill joining me in studio today from Motley 1, Jason Moser, and from Stock |
| 0:09.0 | Advisor Canada Taylor Markerman. |
| 0:10.8 | Happy Monday, Jenz. |
| 0:11.8 | You too. |
| 0:12.4 | It's Merger Monday. It seems like we're... Hello, Markerman. Happy Monday, Jen. You too. |
| 0:12.6 | It's merger Monday. |
| 0:13.8 | It seems like we're... |
| 0:14.8 | It seems like we're saying that a lot more often than we used to. |
| 0:19.5 | Well, uh, talk about... |
| 0:22.3 | Let's just start with that. Let's just start with the news of the day, which is Medtronic, the |
| 0:28.0 | sexy world of medical device makers, but Medtronic is the biggest one in the world. It is about to get a lot bigger |
| 0:35.7 | because it is buying COVIDian, which is a competing medical device maker. Cash and stock deal |
| 0:41.8 | worth about $43 billion. Make on the cake which is that Medtronic the acquiring company based in the United States |
| 0:56.4 | will now be headquartered in Ireland which is where Kavidian is headquartered all because of taxes. |
| 1:03.8 | Yeah, I think that's why I approve this deal, no matter what it does for shareholders. |
| 1:07.6 | Like, it's going to work out for shareholders, okay? |
| 1:10.4 | I mean, but I'm, I mean, I'm a big fan of this deal mainly because like it's another |
| 1:15.5 | middle finger at the US tax code and I mean we you know I'm I have no problem with taxes |
| 1:21.4 | don't get me wrong here I have a problem with our tax |
| 1:24.4 | code I think it's it's so nebulous at this point in the game it makes no sense and |
... |
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