BD And Bard Expect Proposed Acquisition To Close On Dec. 29

(RTTNews) - Becton, Dickinson and Company (BDX) or BD issued statement regarding today's clearance by the Ministry of Commerce of the People's Republic of China or MOFCOM for BD to acquire C. R. Bard (BCR), contingent on BD divesting its soft tissue core needle biopsy product line.

"MOFCOM clearance was the final regulatory approval needed to complete the Bard acquisition," said Vincent A. Forlenza, chairman and CEO of BD. "We look forward to closing the transaction and welcoming Bard's products and associates to the BD family."

The proposed acquisition remains subject to the satisfaction of customary closing conditions. BD and Bard currently expect the proposed acquisition to close on Friday, December 29.

Separately, BD's proposed divestiture of its soft tissue core needle biopsy product line to Merit Medical is conditioned on MOFCOM approval of Merit as the purchaser.

Separately, BD announced that, in connection with its previously announced offers to exchange any and all outstanding 4.400% Notes due 2021, 3.000% Notes due 2026 and 6.700% Notes due 2026 issued by C. R. Bard, Inc. for new notes issued by BD and cash, and the related consent solicitations being made by BD on behalf of Bard to adopt certain proposed amendments to the respective indentures governing the Bard Notes, BD has amended the Exchange Offers and Consent Solicitations to extend the expiration date of the Exchange Offers and Consent Solicitations from 5:00 p.m., New York City time, on December 27, 2017 to 5:00 p.m., New York City time, on December 28, 2017.