Medtronic Plc

More than 50 similar deals have been done over three decades by well-known companies such as Medtronic Plc, Fruit of the Loom and Ingersoll-Rand Plc. Congressional researchers have estimated inversions, left unchecked, will cost the US Treasury nearly $20 billion in the next 10 years.

US politicians condemned Pfizer Inc's deal with Allergan Plc as a tax dodge on Monday, bringing another round of hand-wringing in Washington over the corporate tax code, though legislative action before 2017 is unlikely.

Among the S&P 500's biggest positives, shares of Medical device maker Medtronic Plc, which last month completed the $49.9 billion purchase of Ireland-based Covidien Plc, rose 3.7 per cent at $78.07.

More than 50 similar deals have been done over three decades by well-known companies such as Medtronic Plc, Fruit of the Loom and Ingersoll-Rand Plc. Congressional researchers have estimated inversions, left unchecked, will cost the US Treasury nearly $20 billion in the next 10 years.

US politicians condemned Pfizer Inc's deal with Allergan Plc as a tax dodge on Monday, bringing another round of hand-wringing in Washington over the corporate tax code, though legislative action before 2017 is unlikely.

Among the S&P 500's biggest positives, shares of Medical device maker Medtronic Plc, which last month completed the $49.9 billion purchase of Ireland-based Covidien Plc, rose 3.7 per cent at $78.07.