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Becton Dickinson to buy CareFusion for $12.2 billion

Medical technology company Becton Dickinson & Co. BDX, +1.51% has reached a deal to buy CareFusion Corp. CFN, +1.83% for $12.2 billion in cash and stock, the two corporations said late Sunday. The deal offers $49 per share in cash, along with 0.0777 of a share of BD, for a total consideration of $58 a share, based on BD's Friday close. Stock in CareFusion last ended trade at $46.17. Subject to shareholder and regulatory approval, the deal is expected to close in the first half of next year, and will "provide double-digit cash EPS accretion to BD in the first full year" after the acquisition, according to the statement, helped by "$250 million of pre-tax cost synergies." While BD didn't lay out the details of the financing, it did say it had secured $9.1 billion from Goldman Sachs Group Inc. GS, +2.84% which also served as the financial advisor on the deal. Once the merger goes through, CareFusion will be folded into BD's medical division, the company said.


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