Four Decades for Justice
Cravath represented Johnson & Johnson in connection with its entry into a definitive agreement whereby it will acquire Micrus Endovascular, a global developer and manufacturer of minimally invasive devices to address hemorrhagic and ischemic stroke, for approximately $480 million in a cash-for-stock exchange. Under the terms of the agreement, Micrus Endovascular stockholders will receive at closing $23.40 for each outstanding Micrus Endovascular share. The transaction, which has been approved by the boards of directors of both companies, is expected to close in the second half of 2010.
The Cravath team included partner Robert I. Townsend III and associates David J. Perkins and Sarah R. Kahn on corporate matters; partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters; partner Andrew W. Needham and associates J. Leonard Teti II and Melissa Moszkowski on tax matters;and associate Matthew Morreale on environmental matters.
Deals & Cases
November 01, 2022
On November 1, 2022, Johnson & Johnson and Abiomed, a leader in breakthrough heart, lung and kidney support technologies, announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire through a tender offer all outstanding shares of Abiomed, for an upfront payment of $380 per share in cash, corresponding to an enterprise value of approximately $16.6 billion which includes cash acquired. Abiomed shareholders will also receive a non-tradeable contingent value right (“CVR”) entitling the holder to receive up to $35 per share in cash if certain commercial and clinical milestones are achieved. Cravath is representing Johnson & Johnson in connection with the transaction.
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