J&J Accepts Binding Offer From Carlyle Group To Buy Ortho-Clinical Diagnostics

(RTTNews) - Healthcare giant Johnson & Johnson (JNJ) announced Monday that it has accepted the binding offer from The Carlyle Group to acquire its Ortho-Clinical Diagnostics business for about $4 billion, subject to customary adjustments.

The company said that the acceptance was made after consultation with the relevant works councils and trade unions.

The transaction is expected to close toward the middle of the year, upon satisfaction of customary closing conditions.

On January 16, Johnson & Johnson said it received a binding offer from Carlyle Group to acquire its Ortho-Clinical Diagnostics business for $4.15 billion. The unit, with annual sales of about $2 billion, has more than 2,500 employees worldwide. It has manufacturing operations in Rochester, New York, Pompano Beach, Florida, and Cardiff, Wales.

Johnson & Johnson had said that the acceptance period for the offer would end on March 31, unless extended.