J&J accepts $1.9 billion offer for Cordis business

28 May 2015

US health care giant Johnson & Johnson (NYSE: JNJ) says it has accepted the binding offer from Cardinal Health to acquire its Cordis business for $1.94 billion, which was made on March 1.

The offer was accepted after consultations with relevant works councils and trade unions. The company expects the transaction to close towards the end of 2015, subject to regulatory clearances and other customary closing conditions.

Johnson & Johnson remains dedicated to combating cardiovascular disease through its electrophysiology business, Biosense Webster, in the Medical Devices segment and its leading cardiovascular medicine, Xarelto (rivaroxaban, co-marketed under an agreement with Bayer) in the Pharmaceutical segment.

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