Johnson & Johnson’s $5 Billion Registered Notes Offering and Concurrent €4 Billion Notes Offering
March 12, 2025
Cravath represented the underwriters in connection with the $5 billion registered notes offering of Johnson & Johnson, the world’s largest, most diversified healthcare products company. Cravath also represented the underwriters in connection with Johnson & Johnson’s concurrent €4 billion notes offering. Proceeds of both offerings will be used to finance the acquisition of Intra‑Cellular Therapies, Inc. by Johnson & Johnson. The transactions closed on February 20, 2025, and February 26, 2025, respectively.
The Cravath team included partner Craig F. Arcella and associates Caroline B. Bowman, Morgan S. Lucey and Joseph N. Kadoch on capital markets matters, and partner Arvind Ravichandran and associate Ruth Goldstein Schapiro on tax matters.
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1995, Duke University
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J.D., 2012, Columbia Law School
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B.A., 2009, Columbia College
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January 13, 2025
Johnson & Johnson’s $14.6 Billion Acquisition of Intra‑Cellular Therapies, Inc.
On January 13, 2025, Johnson & Johnson and Intra‑Cellular Therapies, Inc. announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Intra‑Cellular Therapies, a biopharmaceutical company focused on the development and commercialization of therapeutics for central nervous system (CNS) disorders, for $132 per share in cash for a total equity value of approximately $14.6 billion. Cravath is representing Johnson & Johnson in connection with the transaction.
