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Johnson & Johnson to buy Momenta for about $6.5 billion

(Reuters) – Johnson & Johnson (N:JNJ) said on Wednesday it would buy Momenta Pharmaceuticals Inc (O:MNTA) for about $6.5 billion…

By financial2020myday , in Stock Markets , at August 19, 2020

(Reuters) – Johnson & Johnson (N:JNJ) said on Wednesday it would buy Momenta Pharmaceuticals Inc (O:MNTA) for about $6.5 billion (4.9 billion pounds) in cash to expand into the area of autoimmune disease treatments.

J&J will pay $52.50 for each Momenta share, a 70.4% premium to Tuesday’s closing price.

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