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Article: Johnson & Johnson to Merge with Centocor, Inc. For $4.9 Billion in Stock-for-Stock Transaction.
- Article from:
- PR Newswire
- Article date:
- July 21, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW BRUNSWICK, N.J. and MALVERN, Pa., July 21 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ), the world's most comprehensive and broadly-based manufacturer of health care products, and Centocor, Inc. (Nasdaq: CNTO), a leader in monoclonal antibody technology and acute vascular care and immunology products, today announced they have entered into a definitive agreement under which Johnson & Johnson will merge with Centocor in a stock-for-stock exchange. The transaction has a total equity value of $4.9 billion, based upon Centocor's approximately 83 million fully diluted shares outstanding, net of cash acquired.
The boards of directors of Johnson & Johnson and ...