Tim Cook

As firms bring back cash to the U.S., some see a fresh wave of mergers

As firms bring back cash to the U.S., some see a fresh wave of mergers

In late 2015, Apple Inc. Chief Executive Tim Cook was asked why the technology giant continued to leave a mountain of cash overseas rather than return it to the United States.

“I’d love to bring it home,” Cook said of the cash hoard, which now totals a staggering $265 billion, in an interview aired on “60 Minutes.” But, he added, “it would cost me 40% [in federal and state taxes] and I don’t think that’s a reasonable thing to do.”

Now, with the new U.S. tax law providing a much lower cost for cash repatriation, Cook and the managements of many other U.S. multinational companies are expected to bring home a sizable chunk of the $1.4 trillion that Moody’s Investors Service...

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