Johnson & Johnson Expands Cardiovascular Business with $16.6B Abiomed Acquisition
Johnson & Johnson is acquiring all outstanding shares of Abiomed for $16.6 billion, the company announced Tuesday. The deal has been unanimously approved by the boards of directors of both companies. J&J will acquire all outstanding shares of Abiomed for $380 per share, which it plans to finance through a combination of cash and debt. Both companies expect to close the acquisition early next year. Under the terms of the agreement, Abiomed shareholders will be offered a one-time, non-tradeable contingent value right (CVR). This will entitle all stockholders to up to $35 more per share in cash, contingent upon the achievement of several clinical and commercial milestones. These milestones include reaching net sales for Abiomed products exceeding $3.7 billion during J&J
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