Subject: Terms and Effective Date Set for Caremark Spinoff
Date: Published: 10/29/92 (28 lines)
Source: Wall Street Journal. Copyright Dow Jones & Co. Inc.

    Business Brief -- Baxter International Inc.:
    Terms and Effective Date
    Set for Caremark Spinoff

    Baxter International Inc., Deerfield, Ill., declared a dividend
 of one share of Caremark International for each four shares of
 Baxter common, and set a date when it wants to effect the spinoff.
    Distribution of the dividend in Baxter's alternate-site operation
 remains subject to a ruling from the Internal Revenue Service that
 the distribution is tax-free, Baxter said.  The company is also
 awaiting Securities and Exchange Commission clearance.
    If Baxter receives the government rulings before Nov. 27, the
 medical products and services company said, the dividend will be
 distributed on Nov. 30 to stock of record on that date.  If that date
 passes with no government ruling, the dividend declaration will be
 voided, and the board will set another distribution date.
    Baxter's board in June approved the spinoff of the Caremark
 operation as an independent company.  Caremark provides products and
 services for home healthcare, infusion therapy, AIDS care, women's
 health care, physical therapy and prescription services.

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