Becton Dickinson (NYSE:BDX) announced on April 23, 2017 it will acquire CR Bard (NYSE:BCR) in a cash and stock deal totaling $24 billion. The price represents a 25% premium over Bard’s $253.07 Friday closing price per share.

The acquisition gives BD additional exposure in urology and oncology products. The combined companies are estimated to have over $16 billion in revenues in 2017. Bard’s revenues in 2016 were $3.7 billion.

The transaction continues the trend of large medical device OEMs combining as a means of extending growth and gaining dominance in specific market segments. In addition, BD hopes to gain $300 million in “synergies” in the coming years.

For more information, please contact Richard W. Sager, Managing Director, Manning Advisors at rsager@manningadvisors.com or at (585) 315-8413 directly.

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