Diversified medical products giant Baxter (BAX) announces it's acquiring surgical device maker...

|About: Baxter International Inc (BAX)|By:, SA News Editor

Diversified medical products giant Baxter (BAX) announces it's acquiring surgical device maker Synovis (SYNO) for $28/share, or $260M after adjusting for net cash. The price represents a 52% premium to Synovis' Monday close. Baxter expects the deal, which is expected to close in Q1, will be dilutive to its 2012 EPS by $0.04, but will be neutral to 2013 EPS, and accretive afterwards.