© 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
(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