Medtronic seeks EU approval for $43 bln Covidien deal

BRUSSELS, Oct 13 (Reuters) - U.S. medical equipment maker Medtronic (NYSE: MDT - news) has asked European Union antitrust regulators to approve its proposed $43 billion purchase of Irish peer Covidien Plc (NYSE: COV - news) , the European Commission said on Monday.

The acquisition, which will put Medtronic on about the same footing as industry leader Johnson & Johnson (NYSE: JNJ - news) , will reduce its overall global tax burden.

Medtronic however said it is not an inversion deal where U.S. companies acquire foreign rivals to move their tax domicile abroad, but rather a move to boost its medical technology strategy.

The EU competition authority has set a Nov. 14 deadline for its decision. It can either clear the deal unconditionally or ask for concessions to allay possible antitrust concerns or open an in-depth investigation.

Analysts said the disparate businesses of the two companies should not trigger any significant regulatory worries. (Reporting by Foo Yun Chee; editing by Susan Thomas)