Johnson & Johnson’s Acquisition of Micrus

Cravath represented Johnson & Johnson in connection with its entry into a definitive agreement whereby it will acquire Micrus Endovascular, a global developer and manufacturer of minimally invasive devices to address hemorrhagic and ischemic stroke, for approximately $480 million in a cash-for-stock exchange. Under the terms of the agreement, Micrus Endovascular stockholders will receive at closing $23.40 for each outstanding Micrus Endovascular share. The transaction, which has been approved by the boards of directors of both companies, is expected to close in the second half of 2010.

The Cravath team included partner Robert I. Townsend III and associate Sarah R. Kahn on corporate matters; partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters; partner Andrew W. Needham and associates J. Leonard Teti II and Melissa Moszkowski on tax matters;and associate Matthew Morreale on environmental matters.