Johnson and Johnson JNJ, the world's second-biggest seller of health-care products, has agreed to buy Swiss medical device manufacturer Synthes Inc. (SYST) for $21,5 billion. Johnson and Johnson will acquire Synthes for 19 billion Swiss Francs, or $21.59 billion.
Johnson & Johnson is offering 159 Swiss francs per share of the Swiss-American company, which manufactures bone implants and surgical tools. The bid is comprised of 55.65 francs in cash and 103.35 francs worth of Johnson & Johnson common strock.
“Orthopedics is a large and growing $37 billion global market and represents an important growth driver for Johnson & Johnson,” Bill Weldon, head of Johnson & Johnson, said in the companies' statement.
“The combination presents a significant opportunity to jointly bring our products, services and educational offerings to the next level. Together, we will be a more attractive and exciting company for our employees and a more resourceful partner for our customers,” the Synthes President and CEO, Mr Michel Orsinger, said.
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