J&J: completes acquisition of Abiomed
(CercleFinance.com) - Johnson & Johnson announced that it has completed the acquisition of Abiomed last night.
The company will now operate as a stand-alone business within Johnson & Johnson's MedTech segment.
It said that this is another key step in Johnson & Johnson's path to accelerate the growth of its MedTech business and bring innovative medical technologies to more people worldwide.
Johnson & Johnson's tender offer for all outstanding shares of Abiomed for an initial payment of $380 per share - representing an enterprise value of about 16.6 billion dollars - expired on 21 December 2022.
Abiomed shareholders will also receive a non-negotiable contingent value right ("CVR") entitling the holder to receive up to 35 dollars per share in cash if certain commercial and clinical milestones are achieved.
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