This is from the SCIO web site:
NEW BRUNSWICK, N.J., and SUNNYVALE, Calif., Feb 10, 2003 /PRNewswire-FirstCall via COMTEX/ -- Johnson & Johnson (NYSE: JNJ), the world's most comprehensive and broadly based manufacturer of health care products, and Scios Inc. (Nasdaq: SCIO), a biopharmaceutical company with a marketed product for cardiovascular disease and research projects focused on auto-immune diseases, today announced they have signed a definitive agreement under which Johnson & Johnson will acquire Scios in a cash for stock exchange.
Under the terms of the agreement, Scios shareholders will receive $45.00 for each outstanding Scios share. The value of the transaction as of the anticipated closing date is expected to be approximately $2.4 billion, net of cash, based on Scios' approximately 59.8 million fully diluted shares outstanding. |
