American Hospital will consider a Baxter offer.
Evanston, Ill.-based American Hospital Supply, a distributor and supplier of medical products, scheduled a July 12 meeting for its board to consider the latest $3.6-billion merger offer from Baxter Travenol Laboratories. Baxter, of Deerfield, Ill., has promised American’s shareholders $50 a share in its unsolicited merger plan, but American Chairman Karl D. Bays said the value was exaggerated. Bays also said Baxter’s offer raised antitrust questions. American seeks to continue with its earlier plans to merge with Nashville, Tenn.-based Hospital Corp. of America.
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