Becton Dickinson to acquire Bard for $24 bn

Becton Dickinson and Bard said they expected their deal to close in the fall of 2017

US medical equipment supplier Becton Dickinson and Co will acquire C R Bard, in a $24 billion cash-and-stock deal, adding Bard's devices to its portfolio in the high-growth sectors of oncology and surgery, both companies said on Sunday.

The deal comes two years after Becton Dickinson acquired CareFusion Corp for $12 billion. It is the latest in a string of deals in the medical technology sector, as manufacturers turn to acquisitions to boost profit margins.

"We are confident that this combination will deliver meaningful benefits for customers and patients, as we see opportunities to leverage Becton Dickinson's leadership, especially in medication management