J&J Closes Acquisition After Injunction Is Denied

Law360, New York (February 6, 2007, 12:00 AM EST) -- Johnson & Johnson has closed its $1.4 billion acquisition of Conor Medsystems after a judge denied a Conor shareholder’s request for a preliminary injunction to block the merger.

Conor shareholder Capital Trading Co. alleged that a proxy statement for the vote omitted several facts involving conflicts of interest in the board of directors and biased bidding procedures. Capital Trading claimed that shareholders should have known these facts before voting on the merger.

However, San Mateo Superior Court Judge Carol Mittlesteadt ruled on Jan. 30 that Capital...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.