J&J completes $518M buy of Animas
US health care major Johnson & Johnson has completed its previously announced acquisition of Animas Corp, an insulin delivery company (Marketletter January 2 & 9).
Under the terms of the agreement, Animas stockholders will receive $24.50 for each outstanding share. The net value of the transaction as of the anticipated closing date is estimated to be around $518.0 million based upon Animas' 22 million fully-diluted shares outstanding, net of estimated cash on hand at time of closing.
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