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

On June 6, 2018, 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. Cravath is representing Johnson & Johnson in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III 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.