Deals

Baxter to Buy Hill-Rom for $10.5 Billion After Prior Refusal

Baxter to pay $156 a share in medical technology acquisition
Deal’s enterprise value is $12.4 billion including debt

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By Yueqi Yang and John Tozzi

September 2, 2021 at 7:17 AM EDT

Updated on

September 2, 2021 at 9:52 AM EDT

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Baxter International Inc. is buying Hill-Rom Holdings Inc. for $10.5 billion in cash a month after reports that its initial bid was rejected.

Baxter offered to acquire the medical equipment maker for $156 a share, a 7.5% premium from its close on Wednesday. The total enterprise value of the purchase, including debt, is $12.4 billion, the companies said Thursday in a statement.