J&J to Buy Synthes for $21.3 Billion

Johnson & Johnson will acquire medical-device maker Synthes Inc. for $21.3 billion, giving the U.S. health-products giant a commanding lead in the global market for surgical devices used to treat fractures and traumatic injuries.

The two companies said Johnson & Johnson will purchase Synthes for 159 Swiss francs ($139.3) a share, which represents a premium of about 22% to where Synthes stock traded the day before The Wall Street Journal originally reported the talks on April 15.

Under the terms of the deal, each share of Synthes common stock will be exchanged for 55.65 Swiss francs in cash and 103.35 francs in Johnson & Johnson common stock.

Read Full Article from Wall Street Journal

- Posted: 2011-04-27 11:48:51

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