Johnson & Johnson to Buy Abiomed for $16.6B

Johnson & Johnson just revved up its M&A engine in a big way.

The New Brunswick, NJ-based company plans to acquire Abiomed in a deal valued at about $16.6 billion ($380 a share), which includes cash acquired. Abiomed shareholders will also receive a non-tradeable contingent value right to receive up to $35 a share in cash if certain commercial and clinical milestones (noted below) are achieved. The deal price is a 50% premium to Monday's closing stock price.