Johnson & Johnson to buy medical equipment maker Synthes
Johnson & Johnson said on Wednesday that it had agreed to buy the medical equipment maker Synthes for $21.3 billion in cash and stock, in one of the biggest deals ever in the health care sector.
Johnson & Johnson is offering 159 Swiss francs ($181.30) a share for Synthes, a Swiss-American company that manufactures bone implants and surgical tools, and specializes in treatments for trauma.
The bid is comprised of 55.65 francs in cash and 103.35 francs worth of Johnson & Johnson common stock. It represents a 22 percent premium over the 130.60 francs that Synthes was trading at on April 14, before reports of the deal first emerged, according to .
Johnson & Johnson is a holding company. The Company and its subsidiaries are engaged in the research and development, manufacture and sale of a range of products in the health care field.
Shares of JNJ remained unchanged at $64.95. In the past year, the shares have traded as low as $56.86 and as high as $65.62. On average, 11781600 shares of JNJ exchange hands on a given day and today's volume is recorded at 79491, reports.
