Baxter International Inc (BAX.N) said it struck a deal to purchase privately held Baxa Corp, a drug delivery company, for $380 million in cash. Baxter said it expects accounting and transaction-related expenses tied to the deal to reduce 2012 earnings by 3 cents to 5 cents per share, but the acquisition will add to earnings in 2013 and beyond. Englewood, Colorado-based Baxa, whose sales totaled about $150 million in 2010, is a developer of pharmacy technology that improves the safety of oral and intravenous drug preparation and delivery. It has operations in the United States and the UK. Baxter said the acquisition will complement its existing portfolio.
Baxter International Inc. (Baxter) is a global, diversified healthcare company. Shares of BAX remained unchanged at $54.24. In the past year, the shares have traded as low as $42.47 and as high as $62.50. On average, 3996900 shares of BAX exchange hands on a given day and today's volume is recorded at 4000.
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