Equipment-maker Synthes confirmed it is in talks to be purchased by healthcare giant Johnson & Johnson following news reports last week that the Switzerland-based company was negotiating a $20 billion deal with the company.
Synthes in deal talks with Johnson & Johnson
On Friday, April 15, the Wall Street Journal reported that discussions were taking place for J&J to buy the company, in negotiations that were "fragile and could fall apart at any time."
In a statement, Synthes said that "no assurance can be given as to whether, when or on what terms any possible transaction might occur." The company said it would not comment further until a definitive agreement has been signed or negotiations have been terminated.
Synthes, Solothurn, Switzerland, specializes in producing instruments, implants and biomaterials for fixing bones and soft tissues, according to the company's website.
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