Key GOP senator signals readiness for inversion deal, The Hill says

theflyonthewall.com

A key Republican Senator, Orrin Hatch, indicated that he was open to a compromise to rein in tax inversion deals, according to The Hill. “There may be steps Congress can take, short of comprehensive tax reform, to address corporate inversions, and related issues,” Hatch, the top Republican on the Senate Finance Committee wrote in a letter to Treasury Secretary Jack Lew, the website stated. Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott’s (ABT), Medtronic's acquisition of Covidien (COV)and Valeant's (VRX) proposed takeover of Alletgan (AGN). Tax inversions refer to an acquisition of one company, usually officially based in a country in Europe, by a U.S. company, following which the acquiring company becomes domiciled in the same country as the company that it bought. The switch has the potential to significantly lower the acquiring company's tax rate. Key

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