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Medtronic Seeks E.U. Approval For Convidien Acquisition

Medtronic, the medical equipment maker, is seeking E.U. antitrust regulators to approve its proposed $43 billion acquisition of Covidien Plc, the European Commission announced on Monday. The deal would both put Medtronic on the same level as industry leader Johnson & Johnson and reduce its overall global tax obligations. Medtronic said the deal is more about boosting its medical technology strategy more than bringing down its taxes. The E.U. competition authority has picked Nov. 14 as the deadline for a decision.