Baxter to Buy Hill-Rom for $10.5 Billion
02 Septiembre 2021 - 6:54AM
Noticias Dow Jones
By Colin Kellaher
Baxter International Inc. on Thursday said it agreed to buy
Hill-Rom Holdings Inc. for about $10.5 billion, or $156 a share, in
cash.
The deal represents a roughly 7.5% premium to Wednesday's
closing price of $145.06 for Hill-Rom and is 26% above the Chicago
medical-equipment maker's closing price of $123.78 on July 27,
before reports of Baxter's interest in a deal emerged.
Baxter, a Deerfield, Ill., medical-products maker, said the
transaction carries a total value of about $12.4 billion, including
the assumption of debt.
Baxter said it expects about $250 million in annual pretax cost
synergies by the end of the third year, and will result in
low-double-digit accretion to adjusted per-share earnings in the
first full year.
Baxter said it will fund the acquisition, which it expects to
complete early next year, with cash on hand and fully committed
debt financing.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 02, 2021 07:39 ET (11:39 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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