Four Decades for Justice
Cravath represented the underwriters, led by BofA Securities, J.P. Morgan Securities, Citigroup and Deutsche Bank Securities, in connection with the $7.5 billion registered notes offering of Johnson & Johnson, a company engaged in the research and development, manufacturing and sale of a broad range of products in the healthcare field. Proceeds of the offering will be used to finance the acquisition of Momenta Pharmaceuticals, Inc., by Johnson & Johnson and for general corporate purposes. The transaction closed on August 25, 2020.
The Cravath team included partner Craig F. Arcella and associate Saagar Kaul on capital markets matters, and associate Luis Calderon‑Gomez on tax matters. Bethany E. Clarke also worked on capital markets 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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