Covidien today announced that it will reincorporate from Bermuda to Ireland. The move is not a surprise, as the Tyco spinoff had highlighted earlier this year that it was wary of the Obama-sponsored smackdown on offshores. At the time:
Premier Ewart Brown said Sen. Obama seems to be closing in on the “Tycos of the world” and not the Island’s reinsurance industry.
Well, not quite. They seem to be going after both.
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