secwatch.observer — SEC 8-K summary
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Issuer:     BAXTER INTERNATIONAL INC (BAX)
CIK:        0000010456
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001193125-24-199409
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Baxter agrees to sell Kidney Care segment (Vantive) to Carlyle for $3.8B cash
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- Baxter to receive ~$3.5B in cash; net after-tax proceeds ~$3B; to be used for debt reduction.
- Transaction expected close late 2024 or early 2025, subject to regulatory approvals.
- Vantive had 2023 revenue of $4.5B and 23,000 employees; Chris Toth to remain as CEO.
- Baxter targets 4-5% constant currency operational sales growth post-divestiture; adjusted operating margin ~16.5% for 2025.
- Baxter expects to reach below 3.0x leverage by end of 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10456/000119312524199409/0001193125-24-199409-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10456/000119312524199409/d878887d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-199409

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer