Johnson & Johnson (JNJ.N) is to buy Swiss medical devices maker Synthes Inc (SYST.VX) for 19 billion Swiss francs ($21.6 billion) in its largest ever buy, boosting its orthopaedic business and reshaping the industry. The U.S. healthcare group will pay 159 Swiss francs in cash and stock for each Synthes share, the two companies said on Wednesday. That was a premium of 8.5 percent over Synthes's closing share price on Tuesday. A deal had been anticipated after Synthes said on April 18 it was in talks with J&J. The acquisition, which is likely to close in the first half of 2012, has the backing of both the Synthes and J&J boards and will give J&J a leading position in equipment to treat trauma.
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 remained unchanged at $64.95. 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 0.
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