Benzinga | Jul 28, 2021 12:22PM EDT

Hill Rom Stock Shoots Higher As Baxter In Early Talks To Acquire Company: WSJ

* According to people familiar with the matter, Baxter International Inc (NYSE:BAX) is reportedly in talks to buy Hill-Rom Holdings Inc (NYSE:HRC).

* The talks are at an early stage, some of the people said, and there's no guarantee a deal will be reached.

* It would be pretty substantial should there be one, as Hill-Rom has a market value of about $8 billion.

* Hill-Rom has already rebuffed a $144-per-share bid from Baxter, Wall Street Journal reported.

* Price Action: HRC stock is +9.31% 135.30, while BAX shares are down 0.10% at $82.03 during the market session on the last check Wednesday.