Becton Dickinson (BDX - Get Report)  announced Sunday, April 23, that it will acquire medical technology peer C.R. Bard (BCR)  for $24 billion, the largest-ever deal for the 120-year-old buyer. Both BD and Bard are century-old medical device companies based in northern New Jersey.

Bard shareholders will receive $222.93 in cash and 0.5077 shares of BD stock per Bard share, or $317 per Bard share based on BD's closing price Friday of $185.29. The purchase price represents a 25.3% premium over Bard's Friday closing price of $253.07.

READ MORE: Becton Dickinson Acquires Medical Technology Peer C.R. Bard for Hefty Premium

This article was written by a staff member of TheStreet.