FinancialHospitals

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 and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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