Johnson & Johnson’s Binding Offer from Fortive Corporation to Acquire Advanced Sterilization Products for $2.8 Billion

Cravath is representing Johnson & Johnson in connection with the transaction.

Johnson & Johnson announced that it has received a binding offer from Fortive Corporation to acquire its Advanced Sterilization Products business, a division of Ethicon, Inc., for an aggregate value of approximately $2.8 billion.

Johnson & Johnson manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets. The company, led by Alex Gorsky, Ronald A Kapusta and Alison Lewis, in 2017 recorded $76 Billion Revenues.

The Cravath team is led by partners Robert I. Townsend III (Picture), Damien R. Zoubek and Jenny Hochenberg and includes associates Matthew G. Jones, Ryan J. Patrone and Aashim Usgaonkar on M&A matters; partner Jonathan J. Katz and associates Matthew J. Bobby and Peretz Riesenberg on executive compensation and benefits matters; partner David J. Kappos and associate Nicholas Kypriotakis on intellectual property matters; partner J. Leonard Teti II and associate Andrew T. Davis on tax matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Michelle Li and summer associate Caitlin C. Bozman also worked on M&A matters.

 

Involved fees earner: Robert Townsend III – Cravath Swaine & Moore; Damien Zoubek – Cravath Swaine & Moore; Jenny Hochenberg – Cravath Swaine & Moore; Matthew Jones – Cravath Swaine & Moore; Ryan Patrone – Cravath Swaine & Moore; Aashim Usgaonkar – Cravath Swaine & Moore; Jonathan J. Katz – Cravath Swaine & Moore; Matthew Bobby – Cravath Swaine & Moore; Peretz Riesenberg – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Nicholas Kypriotakis – Cravath Swaine & Moore; J. Leonard Teti II – Cravath Swaine & Moore; Andrew Davis – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Johnson & Johnson;