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Becton Dickinson completes Bard acquisition

Becton Dickinson and Co. completed its acquisition of C. R. Bard Inc., making it a unit of the company.

Following the acquisition, each outstanding Bard common share was converted to the right to receive $222.93 in cash without interest and 0.5077 of a Becton Dickinson common share.

Bard shares will cease trading and will be delisted from the New York Stock Exchange.

Becton Dickinson does not expect the acquisition to have a material impact on the company's financial results in the first quarter of fiscal 2018, which ends Dec. 31.

The company still expects the transaction to generate low-single digit accretion to adjusted EPS in fiscal year 2018, and high-single-digit accretion in fiscal year 2019.

Becton Dickinson also completed its exchange offers and consent solicitations related to C. R. Bard Inc. notes. The exchange offers and consent solicitations expired at 5 p.m. ET on Dec. 28.