Suppose MedPraxCo Pharmaceutical, a large U.S.-based pharmaceutical company, merged in 2015 with Covlinco, a small medical device company, which is headquartered in Ireland. In 2019, the resulting Ireland-based conglomerate, CovPrax, purchased a small U.S.-based biotech company called Medico, and relocated CovPrax headquarters to South Dakota, where Medico is based. Throughout this 2015–2019 period, 98% of the conglomerate’s workforce has remained based in Wyoming.

Explain the logic for this series of mergers and acquisitions by MedPraxCo.