“From New York to Silicon Valley, more and more large American corporations are reducing their tax bill by buying a foreign company and effectively renouncing their United States citizenship. Reincorporating in low-tax havens like Bermuda, the Cayman Islands or Ireland — known as ‘inversions’ — has been going on for decades. But as regulation has made the process more onerous over the years, companies can no longer simply open a new office abroad or move to a country where they already do substantial business. Instead, most inversions today are achieved through multibillion-dollar cross-border mergers and acquisitions.”

http://dealbook.nytimes.com/2013/10/08/to-cut-corporate-taxes-a-merger-abroad-and-a-new-home/

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