Becton Dickinson (BDX)  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.

More from Video

John Bogle Changed Wall Street Forever, Jim Cramer Says

John Bogle Changed Wall Street Forever, Jim Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Netflix Will Probably Make Its Earnings Number, Jim Cramer Says

Netflix Will Probably Make Its Earnings Number, Jim Cramer Says

Companies Call For Substantive Solution to Trade Tensions

Companies Call For Substantive Solution to Trade Tensions

A VIP Peak Inside Jim Cramer's Members-Only Action Alerts Plus Call

A VIP Peak Inside Jim Cramer's Members-Only Action Alerts Plus Call