Sunday, February 14, 2016

Johnson & Johnson to close Synthes deal Thursday for $19.7 billion

Johnson & Johnson said it plans to complete the largest acquisition in company history, the takeover of medical device maker Synthes, Inc., on Thursday, with the final price of about $19.7 billion in cash and stock.

Johnson & Johnson to close Synthes deal Thursday for $19.7 billion

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Johnson & Johnson said Tuesday evening it plans to complete the largest acquisition in company history, the takeover of medical device maker Synthes, Inc., on Thursday, with the final price of about $19.7 billion in cash and stock.

The previously announced tentative price of $21.3 billion was subject to currency and stock prices at the time of closing.

J&J is based in New Brunswick, N.J., and has operations around the globe, including the Philadelphia region. Synthes has headquarters in Switzerland and in West Chester, Chester County.

The last regulatory hurdle was cleared Monday, when the U.S. Federal Trade Commission approved the deal, pending J&J's sale of wrist devices to Biomet. J&J previously said it would sell all of its DePuy trauma device to Biomet to satisfy regulators.

The press release is here.

 

Staff Writer
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About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com or 215-854-4506.

David Sell Staff Writer
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