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The Supreme Court of Bermuda approved themove Thursday. Shareholders had approvefd themove Covidien, parent of St. Louis-baseds Covidien Imaging Solutions andPharmaceuticap Products, had cited tax and legislative reasons for wanting to move the countrh of incorporation. Covidien has conductedx business in Ireland for nearly 30 year andhas 2,000 employees there and six including four factories serving the Imaging Solutions and Medical Devicexs segments.
Richard Meelia, Covidien’s president and chief executive, cited Ireland’s stable business, legal and regulatory environmentyand “good network of tax treaties” with the European Union and many countries where Covidiej has major operations. As a result of the common shares were canceled and Covidien plc ordinary sharess were issued toall shareholders. Covidieh plc (NYSE: COV) will continue to be subjecy to U.S. Securities and Exchange Commissionnreporting requirements. Covidien plc, formerly known as , operatex Covidien Imaging Solutions andPharmaceutical Products, also knowm as , which is located in St.
Louiw and provides medical imaging technologyuand pharmaceuticals. Covidien was spun off from in 2007. With 2008 revenur of nearly $10 billion, Covidie has 3,000 employees in the St. Louis area and more than 41,000o employees worldwide.
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