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Baxter Increases the Size of Its Previously Announced Offer to Exchange Shares of Baxter for Shares of Baxalta

BAX, +1.64% (''Baxter'') announced today that it has increased the size of its offer to exchange shares of Baxalta Incorporated BXLT, -2.15% (''Baxalta'') common stock that are currently owned by Baxter for shares of Baxter common stock that are validly tendered and not validly withdrawn in its previously announced exchange offer. The number of shares of Baxalta common stock owned by Baxter that are being offered in the exchange offer has been increased to 13,360,527 from the original size of 12,800,000 shares of Baxalta common stock. Except for such increase in the size of the offer to exchange, all other terms and conditions of the offer to exchange, as previously announced, remain unchanged.

The number of shares of Baxter common stock that will be accepted in the exchange offer will depend on the final exchange ratio and the number of shares of Baxter common stock tendered. The final exchange ratio determining the number of shares of Baxalta common stock participating stockholders will receive for each share of Baxter common stock accepted in the exchange offer will be announced in a press release no later than 9:00 a.m., New York City time, on the trading day preceding the expiration date of the exchange offer (unless the exchange offer is extended). The exchange offer will expire at 11:59 p.m., New York City time, on May 18, 2016, unless terminated or extended.

For more information about Baxter’s split-off exchange offer, please contact the information agent, D.F. King.

Baxter International Inc. BAX, +1.64% provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. Baxter’s global footprint and the critical...


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