Cravath, Weil Advise J&J On $480M Micrus Purchase

Law360, New York (July 12, 2010, 2:03 PM EDT) -- Johnson & Johnson said Monday it was expanding its line of stroke treatment products with the $480 million cash-for-stock acquisition of medical device maker Micrus Endovascualar Corp.

Under the agreement, J&J will pay $23.40 per share to Micrus stockholders. Micrus' share price jumped nearly 5 percent Monday, amid news of the acquisition.

Micrus, based in San Jose, Calif., develops and manufactures minimally invasive devices to treat hemorrhagic and ischemic stroke. It will join Codman & Shurtleff Inc., the neuro device unit of J&J subsidiary the DePuy...
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