Johnson & Johnson (JNJ.N) is buying Synthes Inc (SYST.VX), the Swiss maker of screws and plates to fix broken bones, for 19 billion Swiss francs ($21.67 billion), boosting its orthopaedic business in a major realignment of the medical device sector. The U.S. healthcare group will pay 159 Swiss francs in cash and stock for each Synthes share in a deal moving past a tide of consumer product recalls and loss of patent protection for key pharmaceutical products. J&J's biggest ever acquisition is at a premium of 21.7 percent over Synthes's closing share price of 130.60 Swiss francs on April 14. This was before takeover talk boosted the Swiss group's share price. The acquisition, which is expected to close in the first half of 2012 but could be sealed earlier, is backed by both boards. Synthes said on April 18 it was in talks with J&J.
Johnson & Johnson is a holding company. The Company and its subsidiaries are engaged in the research and development, manufacture and sale of a range of products in the health care field. Shares of JNJ fell by 0.79% or $-0.51/share to $64.44. In the past year, the shares have traded as low as $56.86 and as high as $65.62. On average, 11781600 shares of JNJ exchange hands on a given day and today's volume is recorded at 13030947.
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