24/7 Wall St.
11-24-2008, 08:26 AM
24/7 Wall St. Daily News
http://www.247wallst.com/images/2008/11/24/jnj_logo_2.gif (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/11/24/jnj_logo_2.gif) It looks as though not quite all the mergers are dead on the medical tech and biotechnology front. Johnson & Johnson (NYSE: JNJ) announced that it is acquiring Omrix Biopharmaceuticals, Inc. (NASDAQ: OMRI). The $438 million cash tender offer will pay $25.00 per share to Omrix holders.
Omrix is a fully integrated biopharmaceutical company that develops andmarkets biosurgical and immunotherapy products. It is expected tooperate as a stand-alone entity reporting through J&J's ETHICON,Inc. unit, which is a provider of suture, mesh, hemostats and otherproducts for a wide range of surgical procedures.
The boards of directors of Johnson & Johnson and Omrix haveapproved the transaction. In addition, Robert Taub, Omrix's Founder andChief Executive Officer, and entities controlled by Robert Taub, haveagreed to tender approximately 16% of Omrix's outstanding shares in thetender offer. J&J sees an after tax charge of roughly $120 millionand expects this deal to close by the end of 2008.
Omrix closed at $21.16 on Friday, and its 52-week trading range is $8.99 to $38.18.
Jon C. Ogg
November 24, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=55AsN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=55AsN) http://feeds.feedburner.com/~f/typepad/RyNm?i=tGr5N</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=tGr5N) http://feeds.feedburner.com/~f/typepad/RyNm?i=o8O8n</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=o8O8n)
complete story here... (http://www.247wallst.com/2008/11/omrix-gets-acqu.html)
http://www.247wallst.com/images/2008/11/24/jnj_logo_2.gif (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/11/24/jnj_logo_2.gif) It looks as though not quite all the mergers are dead on the medical tech and biotechnology front. Johnson & Johnson (NYSE: JNJ) announced that it is acquiring Omrix Biopharmaceuticals, Inc. (NASDAQ: OMRI). The $438 million cash tender offer will pay $25.00 per share to Omrix holders.
Omrix is a fully integrated biopharmaceutical company that develops andmarkets biosurgical and immunotherapy products. It is expected tooperate as a stand-alone entity reporting through J&J's ETHICON,Inc. unit, which is a provider of suture, mesh, hemostats and otherproducts for a wide range of surgical procedures.
The boards of directors of Johnson & Johnson and Omrix haveapproved the transaction. In addition, Robert Taub, Omrix's Founder andChief Executive Officer, and entities controlled by Robert Taub, haveagreed to tender approximately 16% of Omrix's outstanding shares in thetender offer. J&J sees an after tax charge of roughly $120 millionand expects this deal to close by the end of 2008.
Omrix closed at $21.16 on Friday, and its 52-week trading range is $8.99 to $38.18.
Jon C. Ogg
November 24, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=55AsN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=55AsN) http://feeds.feedburner.com/~f/typepad/RyNm?i=tGr5N</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=tGr5N) http://feeds.feedburner.com/~f/typepad/RyNm?i=o8O8n</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=o8O8n)
complete story here... (http://www.247wallst.com/2008/11/omrix-gets-acqu.html)