Cardinal Health Binding Offer To Acquire Johnson & Johnson's Cordis Accepted

(RTTNews) - Cardinal Health, Inc. (CAH) announced that its March 1, 2015 binding offer to acquire Johnson & Johnson's (JNJ) Cordis business for $1.94 billion in cash was formally accepted.

The company noted that the offer was accepted after consultations with relevant works councils and trade unions. The transaction is expected to close in the United States and key non-U.S. countries towards the end of 2015, subject to regulatory clearances and other customary closing conditions.

Cordis is a global company with a growing portfolio of products and talented people serving healthcare systems throughout the world.

Cardinal Health noted in its March announcement that the acquisition of Cordis was a significant step forward in its cardiovascular strategy. The Cordis acquisition follows a sequence of strategic moves for Cardinal Health in the areas of cardiology, wound management and orthopedics.