Under the agreement, J&J will acquire Shockwave for $335.00 per share in cash, which represents approximately $13.1 billion. Both companies’ board of directors have approved the transaction.
The acquisition will expand J&J’s reach in the heart device market. The company acquired Abiomed in 2022 for $16.6 billion and Laminar in late 2023 for $400 million, according to The Wall Street Journal.
The deal is expected to close by mid-2024.
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