J&J Makes $21 billion bid for Synthes

Xconomy New York — 

Johnson & Johnson (NYSE: JNJ) is making its biggest acquisition ever, picking up Swiss medical device maker Synthes for $21.3 billion, according to a press release. New Brunswick, NJ-based J&J will pay 159 Swiss francs in stock and cash—a more than 20% premium over Synthes’ share price on April 14, when rumors about the deal first started swirling. The acquisition of Synthes, which makes equipment used in orthopedic implants and trauma surgeries, will greatly increase J&J’s market share in medical devices.