Edwards and Baxter resolve spin-off-related dispute:
This article was originally published in Clinica
Baxter International is to pay Edwards Lifesciences $1m, resolving a number of disagreements related to Edwards' spin-off from Baxter in April 2000. Most of the claims were settled by mutual agreement, and five were resolved by an arbitration panel. The settlement will result in a one-off $5m contribution to Edwards' balance sheet, reflecting the "true-up" of Edwards beginning equity balance, the Irvine, California firm said. Separately, it will book a $5m charge in its operating results, relating to the valuation of receivables at the time of the spin-off.