Shares in Abiomed jumped by half after Johnson & Johnson announcement!
J&J announced that it would buy the heart, lung and kidney treatment company in a deal with an initial enterprise value over $16 billion.
Tweet on J&J v Abiomed agreement!
Johnson & Johnson to acquire Abiomed for $16.6B!
Shares of #ABMD skyrocketed up more than 50% at $378.30 apiece in morning trading today.
— The_Journalbiz (@the_journalbiz) November 1, 2022
J&J acquired Abiomed for 16$Billion
Abiomed shares surged to more than $379 a share, just below J&J’s $380 a share offer price. The offer also includes something called non-tradable contingent value rights, which could be worth up to $35 a share depending on how Abiomed’s business performs while under the J&J umbrella. J&J shares ticked down 0.5%.
Johnson & Johnson (NYSE: JNJ), the world’s largest, most diversified healthcare products company, and Abiomed (NASDAQ: ABMD), a world leader in breakthrough heart, lung and kidney support technologies, today announced that they have entered into a definitive agreement under which Johnson & Johnson will acquire through a tender offer all outstanding shares of Abiomed, for an upfront payment of $380.00 per share in cash, corresponding to an enterprise value of approximately $16.6 billion which includes cash acquired
*Among Abiomed’s biggest shareholders is Scottish fund manager Baillie Gifford, which focuses on high growth companies. As of the end of September, Baillie held a nearly 8% stake, according to FactSet.