Tyco to Acquire C.R. Bard for $3.13 Billion

Tyco International (Bermuda) has agreed to acquire C.R. Bard (Murray Hill, NJ, USA) for US$3.13 billion in stock and to assume $73 million in Bard debt. Bard is a manufacturer and marketer of surgical specialty devices as well as catheters for urology and oncology applications. The company had sales of $1.1 billion in 2000. Tyco is a diversified multinational company, whose holdings include manufacturing and service businesses in addition to its medical supplies unit. In 2000, its medical unit had sales of $6.47 billion.

Industry analysts say there has been speculation that Bard would be the target of a takeover for some years now because it is a good strategic asset. Much earlier, in fact,
there was speculation that Bard might merge with U. S. Surgical until that company was acquired by Tyco in 1998.

Tyco has a history of taking over companies not doing their best and cutting their operational costs to make them more profitable. Kendall International and Sherwood are two other companies in Tyco's medical supplies unit. Tyco acquired Mallinckrodt, a manufacturer of respiratory devices, in October 2000.




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