Deals
Synthes Confirms Takeover Talks With J&J as Shares Rise
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Synthes Inc. said it’s in talks about a possible takeover by Johnson & Johnson, potentially the biggest deal in J&J’s 125-year history as it seeks to recover from pulling more than 50 products off the market since the start of 2010.
Synthes rose 7.80 Swiss francs, or 5.6 percent, to 146.50 francs at the 5:30 p.m. close of Zurich trading, giving the company a market value of 17.4 billion francs ($19.4 billion). Synthes doesn’t intend to provide more information until a definitive agreement has been reached or talks have been terminated, the West Chester, Pennsylvania-based company said today in a statement.