Johnson & Johnson Announces Acceptance of Binding Offer From Platinum Equity To Acquire LifeScan, Inc.

Johnson & Johnson Announces Acceptance of Binding Offer From Platinum Equity To Acquire LifeScan, Inc. June 15, 2018, 11:08

Johnson & Johnson (NYSE: JNJ) today announced that it has accepted the binding offer from Platinum Equity, previously announced on March 16, 2018, to acquire its LifeScan business for approximately $2.1 billion. LifeScan, Inc. is a world leader in blood glucose monitoring and maker of the OneTouch® brand of products.

This acceptance was made after consultation with relevant works councils and trade unions. The transaction is expected to close by the end of 2018, subject to the satisfaction of regulatory clearances and other customary closing conditions.

“We have great respect for Johnson & Johnson and appreciate their confidence in our ability to execute,” said Platinum Equity Chairman and CEO Tom Gores. “This is an important investment for us in a business that serves millions of patients around the world. We are committed to putting our financial resources and global operating expertise to work in support of the company’s core mission to improve the quality of life for people living with diabetes.”

The Johnson & Johnson Family of Companies will continue to serve those impacted by diabetes through innovative products, services and solutions from its Medical Device, Pharmaceuticals and Consumer businesses. These include important leadership and innovation in areas such as bariatric surgery and through medicines such as INVOKANA® (canagliflozin) and INVOKAMET® (canagliflozin/metformin HCl).

https://www.platinumequity.com/news/news-articles/2018/johnson-johnson-announces-acceptance-of-bindi...

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