Law360, New York (July 28, 2014, 10:18 AM EDT) -- Alongside the more typical summer fare, such as coverage of the best beach reading and the latest action movie blockbuster, this summer the media have been abuzz with seemingly daily reports on the latest so-called "inversion" transactions shifting a U.S.-based multinational corporation's tax residence offshore. Recently announced transactions include the Medtronic acquisition of Irish-listed Covidien (which itself had previously inverted); Mylan's acquisition of the Abbott Laboratories non-U.S. specialty and branded generics businesses for $5.3 billion in stock; and AbbVie's $54 billion acquisition of Shire, a London-listed, New Jersey-incorporated, Irish tax resident corporation. ...