Four Decades for Justice
On September 16, 2016, Johnson & Johnson announced a definitive agreement to acquire Abbott Medical Optics, a wholly owned subsidiary of Abbott Laboratories, for $4.325 billion in cash. The acquisition will include ophthalmic products in three business segments: cataract surgery, laser refractive surgery and consumer eye health. Cravath is representing Johnson & Johnson in connection with the transaction.
The Cravath team is led by partner Robert I. Townsend III and includes associates Peter J. Atlee and Justin B. Stein on M&A matters; partner J. Leonard Teti II and associate Tara L. Rhoades on tax matters; partner Jonathan J. Katz and associates Matthew J. Bobby and Daniel P. Herrmann on executive compensation and benefits matters; partner David J. Kappos and associate Jason M. Sandler on intellectual property matters; and partner 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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