Deals
Cardinal Health to Buy J&J’s Cordis Unit for $1.94 Billion
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Cardinal Health Inc. agreed to buy Johnson & Johnson’s Cordis business for $1.94 billion in cash, bulking up the medical distributor’s device-making capabilities.
The purchase, financed with a combination of $1 billion in new senior unsecured notes and existing cash, gives Cardinal a global manufacturer of cardiology and endovascular devices.