Both boards have approved and shareholder approval is pending as well as 
antitrust approval in the US and Europe. The deal is anticipated to close in 2012. This is the largest acquisition made by Johnson and Johnson in their history.
Johnson and Johnson Talks With Synthes–Both Companies 
Have Serious Product Recall History With No Solutions in Sight With Rebuilding Consumer Confidence
Will consumers benefit? We haven’t yet in the O’Neill products area but all we know is the richest man in Switzerland will be richer out of the deal. If HHS gets upset with J and J, like Forest Labs today they could bar them from doing business with the US government.
Johnson and Johnson CEO Pay-Thanks Bill for The Recent 
Efforts to Make the Richest Man in Switzerland Richer-Big Pay For That Effort..Any Consumer Efforts Alive?
Johnson and Johnson still has a lot of unfinished business with the FDA come to think of it. What is odd is putting Synthes under the Depuy division as everyone knows that name now from the knee recalls, are they keeping the right name? BD
“While the particular issues involved in the Consent Decree are limited to McNeil, all of us across the Johnson & Johnson Family of Companies should take this opportunity to re-dedicate ourselves to working hard every day to do the right thing for patients and ensuring their trust. “
Johnson and Johnson Consumer Health Division United Barred From Resuming Operations in Until Quality Standards are Met-Consent Decree Agreement With FDA
NEW BRUNSWICK, N.J. and WEST CHESTER, Pa., April 27, 2011 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ), the world's most comprehensive and broadly-based manufacturer of health care products, and Synthes, Inc. (SWX:SYST.VX), a premier global manufacturer of orthopedic devices, today announced that they have entered into a definitive agreement whereby Johnson & Johnson will acquire Synthes for CHF159 per share, or $21.3 billion. Upon completion of this transaction, Synthes and the DePuy Companies of Johnson & Johnson together will comprise the largest business within the Medical Devices and Diagnostics segment of Johnson & Johnson.
Under the terms of the agreement, each share of Synthes common stock, subject to certain conditions, will be exchanged for CHF55.65 in cash and CHF103.35 in Johnson & Johnson common stock. The transaction has an estimated net acquisition cost of $19.3 billion as of the close of business on April 26, 2011, based on Synthes approximately 119.5 million fully diluted shares outstanding and approximately $2 billion in cash on hand as of signing.
The Boards of Directors of Johnson & Johnson and Synthes have each approved the transaction. Dr. Hansjoerg Wyss, Synthes founder and Chairman of the Board, and related parties have agreed to vote shares representing not less than 33% of Synthes common stock in support of the transaction.
DePuy offers one of the most diverse orthopedics portfolios in the industry, while Synthes is recognized for its innovations in trauma, spine, cranio-maxillofacial and power tools. Together, the companies will offer surgeons and patients a unique breadth and depth of technology and service worldwide to meet their orthopaedic needs.
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