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Johnson & Johnson's Binding Offer from Fortive Corporation to Acquire Advanced Sterilization Products for $2.8 Billion

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 partners Robert I. Townsend III, Damien R. Zoubek and Jenny Hochenberg 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.