Johnson & Johnson Accepts Offer from The Carlyle Group to Acquire Ortho‑Clinical Diagnostics for $4 Billion

On March 31, 2014, Johnson & Johnson announced that it has accepted the binding offer from The Carlyle Group, which was received and announced on January 16, 2014, to acquire its Ortho‑Clinical Diagnostics business for approximately US$4 billion, subject to customary adjustments. Cravath represented Johnson & Johnson in connection with this transaction. The transaction is expected to close toward the middle of the year, upon satisfaction of customary closing conditions.

The Cravath team included partner Robert I. Townsend III and associates Alexander Muller and Stephanie L. Alexis on M&A matters and associate Jarrett R. Hoffman on executive compensation and benefits matters. Ryan M. Farha and Mathieu Francon also worked on M&A matters and Matthew J. Bobby also worked on executive compensation and benefits matters.