Covidien Completes Pharma Spinoff, Hears From Tyco On Tax Matter
This article was originally published in The Gray Sheet
Covidien is now a $9.9 billion, pure-play medical device and supplies company. Separately, the firm could be liable for more than $1 billion in back taxes due to an IRS audit of its former parent, Tyco, though the case is expected to take years to play out in court.
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