Ethicon To Snap Up Acclarent For $785M

Law360, New York (December 17, 2009, 2:40 PM EST) -- Johnson & Johnson-owned Ethicon Inc. will acquire medical technology developer Acclarent Inc. in a $785 million all-cash deal, the companies have announced.

Ethicon and Acclarent announced their definitive merger agreement Wednesday, saying the transaction, expected to close in the first quarter of 2010, is likely to dilute Johnson & Johnson's 2010 adjusted earnings per share by 3 to 4 cents.

The transaction has been approved by both companies' directors and by privately held Acclarent's shareholders, although its closing is subject to customary conditions, including the expiration...
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