Johnson & Johnson and Synthes have entered into a definitive agreement, in which Johnson & Johnson will acquire Synthes for $21.3 billion, according to a company news release.
Johnson & Johnson subsidiary DePuy would merge its orthopedics portfolio with Synthes' innovations in trauma, spine, cranio-maxillofacial and power tools. The transaction has an estimated net acquisition cost of $19.3 billion (as of the close of business on April 26, 2011), based on approximately 119.5 million fully diluted Synthes shares outstanding, and approximately $2 billion in cash on hand as of signing.
The transaction is expected to close during the first half of 2012, pending federal clearance. Upon completion of this transaction, Synthes and the DePuy Companies of Johnson & Johnson will comprise the largest business within the medical devices and diagnostics segment of Johnson & Johnson.
Read the news release about Johnson & Johnson's acquisition of Synthes.
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Johnson & Johnson subsidiary DePuy would merge its orthopedics portfolio with Synthes' innovations in trauma, spine, cranio-maxillofacial and power tools. The transaction has an estimated net acquisition cost of $19.3 billion (as of the close of business on April 26, 2011), based on approximately 119.5 million fully diluted Synthes shares outstanding, and approximately $2 billion in cash on hand as of signing.
The transaction is expected to close during the first half of 2012, pending federal clearance. Upon completion of this transaction, Synthes and the DePuy Companies of Johnson & Johnson will comprise the largest business within the medical devices and diagnostics segment of Johnson & Johnson.
Read the news release about Johnson & Johnson's acquisition of Synthes.
Related Articles on Synthes:
Synthes Recalling its Synex II Central Body Spinal Implant
Synthes Acquires U.S. Surgical Tools Manufacturer
Synthes Reports $907.2M in Net Sales for 3Q FY 2010