Becton Dickinson (NYSE:BDX) today closed its $12.2 billion merger with CareFusion, as expected after European anti-trust regulators last week approved the deal.
Franklin Lakes, N.J.-based Becton agreed last October to pay a total of $58.00 a share – $49.00 in cash and 0.0777 of a BDX share – for each CFN share, representing a premium of 26% to the closing price on Oct. 3.
The deal unites 2 complementary product lines: BD makes products to deliver and administer drugs, such as disposable needles, syringes and intravenous catheters, while CareFusion makes products to store and deliver drugs, such as infusion pumps.
"We are very excited to announce the consummation of the CareFusion acquisition, as it represents a major milestone in BD’s 118-year history. This acquisition significantly accelerates BD’s strategy and builds scale and depth in medication management and patient safety solutions," BD chairman, president & CEO Vincent Forlenza said in prepared remarks. "We look forward to the future with confidence as we become 1 of the largest global leaders in medical technology, and are better positioned to partner with healthcare providers around the world to provide safer, more economical and improved care.”
Anti-trust regulators in the U.S. approved the deal last November; the EU nod was the buyout’s final regulatory hurdle, according to a regulatory filing, setting the stage for a closing tomorrow.
In January CareFusion and BD agreed to settle a raft of lawsuits filed by shareholders seeking to block the merger. CareFusion’s shareholders OK’d the deal later that month.
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