Baxter Travenol reported the results of an offer.
The company said that more than 90% of American Hospital Supply’s common stock was tendered under Baxter Travenol Laboratories’ $3.7-billion offer to acquire the health products concern. Baxter Travenol offered to buy 53% of American Hospital’s 73 million common shares outstanding for $51 a share in cash. It proposed to exchange the remaining shares for a package of Baxter Travenol common and preferred stock that is also valued at $51 a share. Stockholders of both companies are scheduled to vote on the merger Nov. 22.