Johnson & Johnson ($JNJ) and Smith & Nephew ($SNN) were reportedly close to combining their orthopaedics businesses in a transaction valued at roughly $34 billion. According to an October 23 Financial Times report, negotiations collapsed over who would lead the combined company, despite agreement on key financial terms. Under the reported proposal, J&J shareholders would have owned 50.1%… Read More »
Johnson & Johnson ($JNJ) is leaning toward spinning off DePuy Synthes, its orthopaedics business, rather than pursuing a sale. In prepared remarks accompanying its October 13 earnings release, CFO Joseph Wolk said a spinoff currently looks like the best way to create long-term shareholder value. J&J continues to evaluate other structures and expects the separation by mid-2027. A… Read More »
The week’s largest spinoff stories have already received their own coverage here, including the Knicks-Rangers valuation puzzle and Keurig Dr Pepper’s planned breakup. The other developments range from a newly listed shipping company with a complicated capital structure to a German minority distribution and a sizable private investment in a future spinoff. Toro Spins Off Two Gas Carriers… Read More »
DePuy Synthes Spinoff Johnson & Johnson (JNJ) is slimming down again by getting back on the spinoff treadmill. The company announced last week that it plans to separate its orthopaedics division into a standalone company under the revived name DePuy Synthes, according to its press release. Unlike many spinoff announcements, the DePuy Synthes spinoff comes as a surprise,… Read More »