Johnson & Johnson said on Thursday it will sell its ortho clinical diagnostics unit to private equity firm Carlyle Group for $4.15 billion, a year after announcing it was considering spinning off or selling the slow-growing business.The companies said in separate statements that, if approved, the deal should close in the middle of 2014.Reuters reported in December that Carlyle was nearing an agreement to purchase Johnson & Johnson's ortho clinical diagnostics unit for about $4 billion. It beat the Blackstone Group, which had made a bid with conglomerate Danaher Corp, sources said at that time."This transaction is a result of our disciplined approach to portfolio management in order to achieve the greatest value for Johnson & Johnson," Johnson & Johnson Chief Executive Officer Alex Gorsky said in a statement.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 0.87% or $0.28/share to $32.35. In the past year, the shares have traded as low as $17.00 and as high as $32.83. On average, 4438710 shares of BX exchange hands on a given day and today's volume is recorded at 3258361.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. Shares of DHR fell by 0.06% or $-0.05/share to $78.21. In the past year, the shares have traded as low as $57.61 and as high as $78.37. On average, 2364330 shares of DHR exchange hands on a given day and today's volume is recorded at 2831206.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ traded higher by 0.08% or $0.08/share to $94.80. In the past year, the shares have traded as low as $72.37 and as high as $95.99. On average, 7100000 shares of JNJ exchange hands on a given day and today's volume is recorded at 7427202.
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