(WSJ) Baxter International Inc. is close to agreeing on a deal to acquire medical equipment maker Hill-Rom Holdings Inc. for about $10 billion.
The newly submitted bid by Baxter values Hill-Rom at about $150 per share, an improved offer compared to the earlier $144 a share.
Baxter’s deal comes amid a surge in healthcare mergers, with about $399 billion worth of takeover deals executed in the US this year, more than double that of 2020.
Hill-Rom is currently valued at almost $9 billion, while Baxter’s market cap is about $37 billion.
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