Bard shares slip on worries over Tyco deal:
This article was originally published in Clinica
Executive Summary
Shares in CR Bard dipped 6% on fears over prospects for the merger with Tyco International, after Bard conceded that the deal was not now likely to close before the first quarter of 2002. Bard made the announcement in a filing with the US Securities and Exchange Commission. Discussions with the US Federal Trade Commission regarding the merger are ongoing. The companies, which had originally expected the deal to be completed by the end of the year, are fully committed to the transaction, Bard says. Tyco agreed to buy Bard for $3.1 billion in May (see Clinica No 960, p 13).