Johnson & Johnson Announces to Acquire Micrus Endovascular For $23.40 A Share

Johnson & Johnson (NYSE: JNJ) and Micrus Endovascular Corporation (Nasdaq: MEND) announced a definitive agreement whereby Micrus Endovascular will be acquired in a cash for stock exchange.

Under the terms of the agreement, Micrus Endovascular stockholders will receive at closing $23.40 for each outstanding Micrus Endovascular share. The value of the transaction as of the anticipated closing date is estimated to be approximately $480 million, based upon Micrus Endovascular's 20.5 million fully diluted shares outstanding.

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