Johnson & Johnson Holds Talks to Acquire Part of Inverness Medical
TSC Staff
05/09/01 - 10:42 AM EDT
Johnson & Johnson(JNJ Quote) is holding advanced talks to acquire part of
Inverness Medical Technology (IMA Quote), a company that primarily develops products for treating diabetes.
According to the terms the companies are discussing, J&J would acquire Inverness Medical's diabetes care business. Inverness would split off its women's health, nutritional supplements and clinical diagnostics businesses to form a new publicly traded company owned by Inverness shareholders.
Shareholders of Inverness would receive $35 in Johnson & Johnson common stock, plus common stock in the new company, for each share of Inverness they hold. J&J valued the Inverness diabetes care products business at about $1.3 billion.
