Baxter to buy Swedish firm Gambro in $2.76B deal

Published on NewsOK Modified: December 4, 2012 at 4:30 pm •  Published: December 4, 2012
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Baxter will pay for the deal with a combination of debt and cash generated from overseas operations. It expects the acquisition to close in the first half of next year. The deal is worth about $4 billion, counting debt.

Moody's Investors Service said it may downgrade Baxter's credit rating because of the debt Baxter will take on as part of the deal. Moody's currently rates Baxter's credit at 'A3'. That rating is investment grade and is four notches above non-investment grade or "junk" status.

The Wall Street Journal reported last month that Baxter was negotiating to buy Gambro, which is owned in part by Investor AB, the Swedish investment group controlled by the Wallenberg family.

Shares of Baxter fell 58 cents to close at $65.22 Tuesday.