EXETER, N.H. — Diversified holding company Tyco International Ltd. has agreed to buy medical device maker C.R. Bard Inc. for some $3.2 billion in stock, according to reports.
Bard, based in Murray Hill, N.J., posted year 2000 revenues of $1.1 billion, reports said. Tyco is offering $60 in stock for each share of Bard, which closed at $46 per share yesterday.
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Last year, Tyco agreed to buy health equipment firm Mallinckrodt for $3.1 billion. The purchase of Bard is expected to further strengthen Tyco’s medical product business, reports said.
Through its subsidiaries, Tyco designs, manufactures, and sells electronic components, undersea cable, disposable medical supplies, fire suppression and detection equipment, security systems and flow control products. The company’s Fire & Security Group unit, located in Cranston, R.I., employs about 200 people. According to reports, Bard also has a facility in Cranston, where it employs some 125 workers.
