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Cardinal Health to buy Cordis from Johnson & Johnson

Read time: 1 mins
Last updated:4th Mar 2015
Published:4th Mar 2015
Source: Pharmawand
Cardinal Health announced plans to acquire Johnson & Johnson's Cordis business, a leading global manufacturer of cardiology and endovascular devices, for $1.944 billion in cash, or approximately $1.594 billion, net of the present value of tax benefits. The acquisition is expected to be financed with a combination of $1.0 billion in new senior unsecured notes and the remainder with existing cash. The transaction is expected to close in the United States and key non-U.S. countries towards the end of calendar 2015.

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