In the largest announced all-cash acquisition in the medtech sector, Abiomed has agreed to be acquired by Johnson & Johnson for $18 billion through a tender offer. In addition, Abiomed shareholders will receive up to $35 per share in cash in a non-tradeable contingent value right (CVR) that is payable if certain commercial and clinical milestones are achieved. The deal was announced November 1.
Abiomed is a world leader in breakthrough heart, lung and kidney support technologies and operates in one of the fastest growing medtech segments. Johnson & Johnson is the world’s largest, most diversified healthcare products company. Following the completion of the transaction, Abiomed will operate as a standalone business within Johnson & Johnson MedTech.
The S&C team advising Abiomed includes Matthew Hurd, Robert Downes, Miaoting (Mimi) Wu, Elizabeth Pompliano and Bailie Mittman. Marc Treviño, Tiffany Wooley and Rebecca Rabinowitz are advising on executive compensation matters. Mehdi Ansari, RuiHui (Rachel) Yu and Grace Son are advising on intellectual property matters. Jameson Lloyd and Devin Risinger are advising on U.S. tax matters. Gauthier Blanluet and Alexis Madec in Paris are advising on French tax matters. Matthew Brennan is advising on environmental matters. Renata Hesse, Adam Paris and Julia Prezioso Fotos are advising on antitrust matters. Michael Rosenthal and Matt Bogdan in Brussels are advising on global competition matters.
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