Consummation of the deal is still waiting on anti-trust approvals, including by the U.S. Federal Trade Commission. In June, the FTC asked for more information on the merger, adding 30 days to the timeline for closing the deal.
“BD and Bard are cooperating fully with the FTC staff and will continue to do so. The BD and Bard businesses are highly complementary, and areas of overlap are minimal and not material to either the strategic or financial rationale of the pending acquisition,” the companies said at the time.
Murray Hill, N.J.-based Bard is slated to become a new segment, BD Interventional, with Tom Polen as president. The companies have said they intend to build upon Bard’s portfolio of peripherally inserted central catheters, midlines and drug delivery ports, as well as expand their presence in infection prevention.
Earlier this month BD again extended its exchange offer for up to $1.1 billion in outstanding Bard notes, this time until August 29. The company is offering exchanges for approximately $500 million of 4.4% Bard notes due 2021, $500 million of 3% notes due 2026 and $149.8 million in 6.7% notes due 2026.