Citigroup listed seven companies as potential takeover targets for Apple Inc, including Netflix, Walt Disney and Tesla Inc, as a way to put its cash hoard of more than $250 billion to work.
With over 90 percent of its cash sitting overseas, a one-time 10 percent repatriation tax would give Apple $220 billion for acquisitions or buybacks, Citigroup analyst Jim Suva said in a note to clients.
U.S. President Donald Trump's tax blueprint, which was unveiled last month, proposes allowing multinationals to bring in overseas profits at a tax rate of 10 percent versus 35 percent now.
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