J&J/Innovasive
This article was originally published in The Gray Sheet
Executive Summary
Johnson & Johnson has paid Innovasive Devices stockholders a total of $85 mil. for 100% ownership of the sports medicine device manufacturer, the firm announces Feb. 11. The selling price represents an exchange rate of 0.0948 J&J shares of for each share of Innovasive stock. The total price is $2 mil. higher than reported in November when the deal was announced (1"The Gray Sheet" Nov. 15, p. 12)