Johnson & Johnson, Omrix merger granted approval in Israel; tender offer ends Dec. 23

By Lisa Kerner

Charlotte, N.C., Dec. 11 - The Israeli General Director of the Antitrust Authority granted approval for Johnson & Johnson's proposed acquisition of Omrix Biopharmaceuticals, Inc., it was announced on Thursday.

The approval satisfies one condition of Johnson & Johnson's tender offer for Omrix, which is set to end at midnight ET on Dec. 23, a Johnson & Johnson news release said.

Binder Merger Sub, Inc., a Johnson & Johnson subsidiary, began the $25-per-share cash tender offer for Omrix on Nov. 25.

Johnson & Johnson, a New Brunswick, N.J.-based pharmaceutical company, agreed to acquire Omrix for approximately $438 million.

Omrix, a New York-based biopharmaceutical company, will operate as a standalone entity through Johnson & Johnson's Ethicon, Inc., which provides suture, mesh, hemostats and other products for surgical procedures, it was previously reported.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.