Medtronic Offers R&D Sweetener with Covidien Tax Maneuver; Atos Plans Payment Unit IPO

TheStreetJune 16, 2014

European stocks continue to slide on Monday amid escalating violence in Iraq and after euro zone inflation data confirmed a picture of weak economic growth. Frankfurt-listed shares in medical devices maker Covidien surge after Medtronic makes an agreed offer worth $42.9 billion in cash and shares, but Smith & Nephew falls after the transatlantic deal leaves the British company on the shelf. In France IT services provider Atos announces plans to sell a minority stake in its payment systems unit, which plans an acquisition spree in Europe’s fragmented payment services and money transfer market.