Johnson & Johnson’s Offer from Platinum Equity to Acquire its LifeScan Business for $2.1 Billion

On March 16, 2018, Johnson & Johnson announced that it has received a binding offer from Platinum Equity, a leading private investment firm, to acquire its LifeScan business for approximately $2.1 billion, subject to customary adjustments. LifeScan, Inc. is a leader in blood glucose monitoring products. Cravath is representing Johnson & Johnson in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes associates Zachary A. Portnoy, Sarah K. Johnson, Madeleine S. Shiff and Aashim Usgaonkar on M&A matters; partners George E. Zobitz and Craig F. Arcella and associate Holden K. Sumner on financing matters; partner J. Leonard Teti II and associate Andrew T. Davis on tax matters; partner David J. Kappos and associate Nicholas Kypriotakis on intellectual property matters; partner Jonathan J. Katz and associates Matthew J. Bobby and Michelle M. Garrett on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Michelle Li also worked on M&A matters.