{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-21-024946","form_type":"8-K","ticker":"BAX","cik":"0000010456","company_name":"BAXTER INTERNATIONAL INC","filed_at":"2021-12-13T23:59:59+00:00","discovered_at":"2026-05-14T18:04:11.250476+00:00","generated_at":"2026-06-28T01:32:08.449078+00:00","sec_items":["2.01","5.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Baxter completes $10.5B acquisition of Hillrom; expects $250M annual cost synergies","bullets":["Baxter paid $156.00/share in cash for Hillrom; total equity purchase price ~$10.5B, enterprise value ~$12.5B.","Expects ~$250M annual pre-tax cost synergies by year 3; low double-digit adjusted EPS accretion in first full year.","Nancy Schlichting appointed to Baxter board; John Forsyth to retire May 2022.","Financed with $7.8B bonds, $4.0B term loans; weighted average cost ~2%, maturity ~7 years.","Combined company creates ~$15B global medtech leader; expects to delever to 2.75x net debt/EBITDA in 2 years."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-21-024946","json":"https://secwatch.observer/filing/0001628280-21-024946.json","markdown":"https://secwatch.observer/filing/0001628280-21-024946.md","text":"https://secwatch.observer/filing/0001628280-21-024946.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/10456/000162828021024946/0001628280-21-024946-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/10456/000162828021024946/bax-20211209.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-28T01:32:08.449078+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"11e618c023","claim":"John D. Forsyth retired as Director at BAXTER INTERNATIONAL INC.","evidence_excerpt":"On December 9, 2021, Mr. John D. Forsyth notified the Company of his decision to retire from the Board, and the Board’s Nominating, Corporate Governance & Public Policy Committee and Compensation Committee, in each case effective as of May 1, 2022.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000162828021024946/0001628280-21-024946-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"retired"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"b0be947fd2","claim":"Nancy M. Schlichting was appointed as Director at BAXTER INTERNATIONAL INC.","evidence_excerpt":"On December 13, 2021, the Company appointed Ms. Nancy M. Schlichting to the Board of Directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000162828021024946/0001628280-21-024946-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}