We discuss structural and thermodynamical properties of Baxter's adhesive hard sphere model within a class of closures which includes the Percus-Yevick (PY) one. The common feature of all these closures is to have a direct correlation function vanishing beyond a certain range, each closure being identified by a different approximation within the original square-well region. This allows a common analytical solution of the Ornstein-Zernike integral equation, with the cavity function playing a privileged role. A careful analytical treatment of the equation of state is reported. Numerical comparison with Monte Carlo simulations shows that the PY approximation lies between simpler closures, which may yield less accurate predictions but are easily extensible to multicomponent fluids, and more sophisticate closures which give more precise predictions but can hardly be extended to mixtures. In regimes typical for colloidal and protein solutions, however, it is found that the perturbative closures, even when limited to first order, produce satisfactory results. (C) 2004 American Institute of Physics.