Deals
J&J Agrees to Buy Synthes for $21.3 Billion to Gain Devices
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Johnson & Johnson agreed to buy Synthes Inc. for $21.3 billion in the biggest purchase of the company’s 125-year history, to become the leader in the $5.5 billion market for devices that treat trauma victims.
Synthes holders will receive 159 Swiss francs a share in cash and stock, the companies said in a statement today. That’s 8.5 percent above the closing price yesterday and 15 percent higher than April 15, the last trading day before West Chester, Pennsylvania-based Synthes said it was in talks. The shares of Synthes trade in Switzerland.