White House declines comment on Johnson Controls deal to buy Ireland-based Tyco

WASHINGTON The White House on Wednesday declined to comment on the latest so-called tax-inversion deal by a major U.S. company, but said legislation was needed to close the loophole.

Asked at a White House briefing about a $16.5 billion deal announced on Monday by Johnson Controls Inc (JCI.N), a U.S. maker of car batteries and heating and ventilation equipment, to acquire Ireland-based peer Tyco International Plc (TYC.N), spokesman Josh Earnest said he would not comment on specific deals.

“Ultimately, we need legislation to address this loophole,” he said.

(Reporting by Roberta Rampton and Ayesha Rascoe; Writing by Mohammad Zargham; Editing by James Dalgleish)

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