Medical products company Johnson & Johnson, New Brunswick, N.J., has agreed to pay $480 million in stock and cash to acquire San Jose, Calif.-based Micrus Endovascular Corp., which develops devices to address hemorrhagic and ischemic stroke.
J&J to buy Calif. devicemaker
The deal has been approved by both companies' boards of directors, according to a news release. The transaction is subject to approval by Micrus shareholders and customary regulatory review. After closing of the deal, which is expected to take place during the second half of 2010, Micrus will fold into Johnson & Johnson's DePuy group of companies.
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