CWS Market Review – April 23, 2017

Great news broke on Sunday. Becton, Dickinson (BDX) said they’re buying CR Bard (BCR) for $24 billion, or $317 per share. That’s a 25.3% premium to Friday’s closing price!

This is terrific news and it’s great seeing a long position get rewarded so handsomely.

Here’s how the deal work. BCR shareholders will get $222.93 per share in cash plus 0.5077 shares of BDX. That works out to $317 based on Friday’s close.

Here’s the press release.

Don’t worry. There’s nothing you have to do right now. The deal is expected to close this fall. I’ll have more details in upcoming issues of CWS Market Review. But first, I wanted to let you know about this news as soon as possible.

– Eddy

P.S. Hooray!!!!

Posted by on April 23rd, 2017 at 6:09 pm

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.