J&J Acquires Conor for $1.4B
Johnson & Johnson and Conor Medsystems, Inc. today announced a definitive agreement whereby Johnson & Johnson will acquire Conor Medsystems for approximately $1.4 billion in cash. The boards of directors of the two companies have approved the transaction which they expect will be closed by the end of the first quarter of 2007 if approval by antitrust authorities is granted. The acquisition brings controlled drug delivery technology to J&J subsidiary Cordis Corporation.
November 16, 2006 Related topics: Mergers & Acquisitions