BD (Becton, Dickinson and company) has definitively agreed to acquire Bard for US$317 per common share in cash and stock, for a total consideration of US$24 billion.
The agreement has been unanimously approved by the Boards of Directors of both companies.
Vince Forlenza, BD’s chairman and chief executive officer, says, “Combining with Bard will accelerate our ability to offer more comprehensive, clinically relevant solutions to customers and patients around the globe, creating a strong partner for healthcare providers who are increasingly focused on delivering better outcomes at a lower total cost.”
Tim Ring, Bard’s chairman and chief executive officer, says, “We are confident that this combination will deliver meaningful benefits for customers and patients as we see opportunities to leverage BD’s leadership, especially in medication management and infection prevention.”
BD recently announced that, in connection with the previously announced acquisition of CR Bard, BD has commenced offers to exchange any and all outstanding notes issued by Bard as set forth in the table below for up to US$1,149,820,000 aggregate principal amount of new notes issued by BD and cash.