Baxter International is in advanced talks to buy Hillrom for roughly $10 billion, people familiar with the matter told The Wall Street Journal.
The deal values Hillrom at about $150 per share, the Journal reported Aug. 29. The Journal reported in July that Baxter offered to purchase the medical equipment maker for about $144 per share, an offer that Hillrom refused.
Those familiar with the matter told the Journal a deal could be reached by midweek.
Hillrom, which makes equipment such as hospital beds and patient monitoring devices, has a market capitalization of close to $9 billion, according to the Journal. Baxter is worth around $37 billion.
A spokesperson for Hillrom told Becker's the company doesn't comment on market speculation. Becker's has also reached out to Baxter for comment and will update this story accordingly.
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