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Skadden guides acquisitions
American firm Skadden is representing manufacturer of cardiovascular disease medical devices, Guidant Corporation, on its proposed acquisition by Johnson & Johnson, manufacturer of…
Lawyers Weekly
American firm Skadden is representing manufacturer of cardiovascular disease medical devices, Guidant Corporation, on its proposed acquisition by Johnson & Johnson, manufacturer of pharmaceuticals, medical devices and health care, dental, skin care and eye care products. The companies have announced a definitive agreement valued at US$23.9 billion ($32 billion), based on a price of $76 a share.
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The transaction will bring together cardiovascular expertise and technologies. Under the terms of the agreement, each share of the Guidant common stock will be exchanged for US$30.40 ($40.72) in cash and US$45.60 ($61.08) in Johnson & Johnson common stock.
Subject to clearance under the Hart-Scott-Rodino Antitrust ImprovementsAct, the European Union merger control regulations and other customary closing conditions, the agreement also requires the approval of Guidant shareholders. Attorneys working on the deal include partners Charles W Mulaney Junior, Brian W Duwe, Neal R Stoll, Henry Huser, counsel Ian G John and Michael R Bergmann and associates Alison M Rhoten and Melissa L Braswell.
