FinancialRegulatory

Medtronic expects to free up to $4B after IRS beef is settled

November 25, 2014 by Brad Perriello

Medtronic says it expects to repatriate as much as $4 billion in cash after it resolves a dispute with the IRS involving its Puerto Rico subsidiary.

Medtronic (NYSE:MDT) said today that it expects to land a substantial windfall once it resolves a dispute with the IRS over the next “couple of years.”

In a regulatory filing, Fridley, Minn.-based Medtronic said it expects to repatriate between $500 million and $4.5 billion in overseas cash once the dispute is put to bed.

The cash will be used to lower its debt load, Medtronic said in the filing.

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Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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