Weil, Gotshal & Manges serves as antitrust counsel to Johnson & Johnson in its acquisition of Synthes, Inc., one of the world’s leading medical device companies. According to the merger agreement announced today, Johnson & Johnson will acquire Synthes for CHF159 per share, or approximately $21.3 billion. 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.

Johnson & Johnson’s DePuy subsidiary offers a diverse product portfolio in the orthopaedics area, and Synthes’ recognized innovations in trauma, spine, cranio-maxillofacial and power tools will augment Johnson & Johnson’s offering. The combination of DuPuy and Synthes will create the largest business within the Medical Devices and Diagnostics segment of Johnson & Johnson.

The transaction is expected to close during the first half of 2012 and is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act. The deal will also require regulatory approval by the European Commission and approval in certain other jurisdictions, as well as other customary closing conditions.

The Weil team is led by partners Steve Newborn, Ann Malester, and Steve Bernstein and includes counsel John Sipple, Jr. and associates Vadim Brusser and Kristina Sadlak.