Baxter Has Made Takeover Approach to Omnicell
(Bloomberg) -- Health-care supply company Baxter International Inc. has expressed interest in buying Omnicell Inc., a provider of medication-management services, according to people familiar with the matter.
Baxter made an approach to Omnicell, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and the approach may not lead to a deal, the people said.
“As a matter of policy, Omnicell does not comment on rumors or speculation,” a representative for Omnicell said in a statement.
A representative for Baxter declined to comment.
Omnicell rose 19% in late trading Tuesday.
The stock rose 2.1% to close at $109.88 in New York, giving the Mountain View, California-based company a market value of about $4.7 billion.
Baxter, with a market value of about $39.8 billion, rose 0.2% to $77.93.
©2020 Bloomberg L.P.