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HomeMarketJ&J to buy Abiomed in $16.6 billion deal By Reuters

J&J to buy Abiomed in $16.6 billion deal By Reuters

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© Reuters. FILE PHOTO: The company logo for Johnson & Johnson is displayed to celebrate the 75th anniversary of the company’s listing at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid

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(Reuters) – Johnson & Johnson (NYSE:) said on Tuesday it will acquire Abiomed (NASDAQ:) Inc for a deal valued at $16.6 billion to boost the healthcare conglomerate’s medical devices business.

The upfront payment of $380 per share represents a 50.7% premium to Abiomed’s last closing price.

Abiomed shareholders will also get a non-tradeable contingent value right entitling the holder to receive up to $35 per share in cash if certain commercial and clinical milestones are achieved.

Abiomed makes the heart pump Impella.

Story Credit: investing.com

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