Hill-Rom Shares Rally On Reports of Baxter Deal Talks -- Update

By Colin Kellaher

Shares of Hill-Rom Holdings Inc. rose nearly 9% Wednesday after published reports that Baxter International Inc. is in talks to buy the medical-equipment maker.

The talks are at an early stage, and Chicago-based Hill-Rom has already rebuffed a $144-a-share bid from Baxter, according to people familiar with the matter.

The talks were first reported by Bloomberg.

Hill-Rom shares were recently up 8.7% to $134.49, while shares of Baxter slipped 0.1% to $82.04.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

07-28-21 1356ET