Hill-Rom Holdings Inc., a medical-gear maker with heavy roots and a strong manufacturing presence in southeastern Indiana, could be acquired by Baxter International Inc., if advanced talks don’t fall apart, according to a published report.
The deal would be valued at around $10 billion, or $150 a share, The Wall Street Journal reported Sunday, citing sources familiar with the matter. Hill-Rom earlier rejected a $144-a-share offer, according to the newspaper.
Hill-Rom was established in 1929 as a sister company of Batesville Casket within Hillenbrand Industries. The companies split in 2008 and Hill-Rom relocated its headquarters to Chicago in 2015.
Hill-Rom, which makes hospital beds and patient-monitoring devices, continues to employ as many 1,900 people in Batesville.
Baxter is a medical technology company based in Deerfield, Ill.