NEW YORK (TheStreet) -- Shares of Johnson & Johnson (JNJ) may advance today after the Wall Street Journal reported this morning that the company had accepted Carlyle Group's (CG) bid to acquire its ortho-clinical diagnostics business for nearly $4 billion.
The shares are up 0.37% to 97.80 in premarket trade.
The ortho-clinical diagnostics business provides in vitro diagnostic products, transfusion donor screening, and blood typing products.
Carlyle made the offer in January. The acceptance period for the offer was set to end today. The deal is expected to close about mid-year.
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TheStreet Ratings team rates JOHNSON & JOHNSON as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate JOHNSON & JOHNSON (JNJ) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
Highlights from the analysis by TheStreet Ratings Team goes as follows: