Tuesday, October 21, 2014
Inquirer Daily News

With J&J deal pending, Synthes gives provisional notice of stock delisting

Synthes, Inc., the medical device manufacturer with headquarters in West Chester that is being bought by Johnson & Johnson, said in a statement Wednesday morning that its stock could be delisted from the Swiss Stock Exchange as early as June 14.

With J&J deal pending, Synthes gives provisional notice of stock delisting

Synthes, Inc., the medical device manufacturer with headquarters in West Chester that is being bought by Johnson & Johnson, said in a statement Wednesday morning that its stock could be delisted from the Swiss Stock Exchange as early as June 14.

The provisional notice, subject to change, was issued early Wednesday because Synthes is traded on the Swiss stock exchange. The company was originally created by Swiss surgeons and chairman of the board Hansjorg Wyss remains a Swiss citizen. Synthes USA is registered in Delaware.

In April 2011, J&J agreed to buy Synthes for $21.3 billion, through a combination of stock and cash, payable in Swiss francs.

J&J officials have said they hope to close the acquisition by the end of its second fiscal quarter, which is June 30.

The Synthes provisional notice mentions that the date is subject to change.

The deal is pending a decision by the U.S. Federal Trade Commission, which usually weighs whether an acquisition violates anti-trust laws.

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

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

Reach David at dsell@phillynews.com.

David Sell
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