Baxter International Inc. (BAX)

[Enterprising Investor]

Baxter Announces Final Exchange Ratio of 1.1591 for Baxalta Exchange Offer (5/17/16)

DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE: BAX) (“Baxter”) announced today the final exchange ratio in connection with its previously announced offer to exchange up to 13,360,527 shares of common stock of Baxalta Incorporated (NYSE: BXLT) (“Baxalta”) that are currently owned by Baxter for shares of Baxter common stock.

For each share of Baxter common stock that is validly tendered and not validly withdrawn by a stockholder and that is accepted by Baxter pursuant to the exchange offer, Baxter will deliver 1.1591 shares of Baxalta common stock to or at the direction of such tendering stockholder.

Based on the final exchange ratio, Baxter will accept for exchange 11,526,638 shares of its common stock if the exchange offer is fully subscribed. Because the exchange offer will be subject to proration if the exchange offer is oversubscribed, the number of shares of Baxter common stock accepted in the exchange offer may be fewer than the number of shares tendered.

The exchange offer and withdrawal rights are scheduled to expire at 11:59 p.m., New York City time, on Wednesday, May 18, 2016, unless the exchange offer is extended or terminated. Accordingly, Baxter stockholders may tender or withdraw their shares of Baxter common stock until that time by following the procedures described in the prospectus and related letter of transmittal. The completion of the exchange offer is subject to certain conditions as set forth in the prospectus.

For more information about the exchange offer, please contact the information agent, D.F. King.

About Baxter

Baxter International Inc. (NYSE: BAX) provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. Baxter’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon Baxter’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.

http://www.businesswire.com/news/home/20160517005420/en/Baxter-Announces-Final-Exchange-Ratio-1.1591-Baxalta