Four Decades for Justice
June 06, 2018
On June 6, 2018, Johnson & Johnson announced that it has received a binding offer from Fortive Corporation to acquire its Advanced Sterilization Products business, a division of Ethicon, Inc., for an aggregate value of approximately $2.8 billion. Cravath is representing Johnson & Johnson in connection with the transaction.
The Cravath team is led by partner Robert I. Townsend III and includes associates Matthew G. Jones, Ryan J. Patrone and Aashim Usgaonkar on M&A matters; partner Jonathan J. Katz and associates Matthew J. Bobby and Peretz Riesenberg on executive compensation and benefits matters; partner David J. Kappos and associate Nicholas Kypriotakis on intellectual property matters; partner J. Leonard Teti II and associate Andrew T. Davis on tax matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Michelle Li and summer associate Caitlin C. Bozman also worked on M&A 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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