Johnson & Johnson

Companies announce revised acquisition agreement with net value of $19 billion

Published in Healthcare Finance, Tax and Law Weekly, December 21st, 2005

Johnson & Johnson (JNJ) and Guidant Corporation (GDT) said that they have entered into a revised agreement by which Johnson & Johnson will acquire Guidant for $21.5 billion in fully diluted equity value. The companies originally entered into an agreement in December 2004.

Under the terms of the revised agreement, the transaction has an estimated net acquisition cost of $19 billion based upon Guidant's approximately 340 million fully diluted shares outstanding, net of estimated cash on hand at the time of closing. Each share of Guidant common stock will be exchanged for $33.25 in cash and .493 shares of Johnson & Johnson common stock. Valued as of the market close on...

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Source: Healthcare Finance, Tax and Law Weekly (2005-12-21)

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