Cravath, Weil Rep J&J In $21B Deal To Buy Synthes

Law360, New York (April 27, 2011, 3:39 PM EDT) -- New Jersey-based Johnson & Johnson said Wednesday it would buy Pennsylvania-based Synthes Inc. in a stock-heavy acquisition likely to pass antitrust muster that values the Swiss medical device maker at $21.3 billion and gives the U.S. pharmaceutical giant access to markets where it lags.

Confirming more than a week of rumors, J&J said the acquisition values its target at more than $180 per share and that it would pay some $63 in cash and $117 in stock for each share of the Swiss-traded company, which makes its U.S....
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