NEW YORK (GenomeWeb) – Becton Dickinson today priced its previously announced public offerings of $4.5 billion of common stock and depositary shares.
The offering of $2.25 billion of common stock was priced at $176.50 per share, while the offering of $2.25 billion in depositary shares was priced at $50 per share. BD has granted the underwriters an option to purchase up to an additional $225 million of common stock and up to an additional $225 million of depositary share, each at the public offering price per share.
Proceeds from the offerings will go toward financing a portion of the cash consideration payable in connection with the company's planned $24 billion acquisition of CR Bard. The offerings are expected to close on or about May 16.
The joint book-running managers for the offering of the common stock include Citigroup, JP Morgan, Morgan Stanley, Wells Fargo Securities, and others. The joint book-running managers for the offering of the depositary shares include Citigroup, JP Morgan, Morgan Stanley, Barclays, and others.