Chace LLC completed the acquisition of Abbott Medical Optics Inc. from Abbott Laboratories.
February 27, 2017
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Chace LLC entered into a definitive agreement to acquire Abbott Medical Optics Inc. from Abbott Laboratories (NYSE:ABT) for $4.3 billion on September 14, 2016. The consideration will be paid in cash and is subject to customary purchase price adjustments for cash, debt and working capital. The acquisition will include ophthalmic products in three business segments, cataract surgery, laser refractive surgery and consumer eye health. Abbott Medical Optics reported sales of $1.1 billion for 2015. The closing is subject to antitrust clearance, regulatory approvals and other customary closing conditions. The transaction is expected to close in the first quarter of 2017. The transaction would be modestly accretive immediately to Johnson & Johnson' adjusted earnings per share. The net impact of the transaction is not expected to impact Abbott’s overall targeted ongoing earnings per share in 2017. As of February 21, 2017, European Commission approved the transaction. Filip Moerman, Ethan Klingsberg, Marijke Spooren, Jan-Frederik Keustermans, Michael Brems, Loïc Peltzer, Philip Davies, Martin Begiebing, Suzanne Debras, M. Jonathan Brice, Silke Jurczyga, Nicolas Vanderstappen, Omar El Khatib, Axel Baeté, Fanghan Chen, Jingzhi Li, Fabio Chiovini, Yiming Sun, Rafael Andrade, Felicitas Möller, Arthur Kohn, Francesca Odell, Denise Shiu, Raj Panasar and Carolyn Hayday of Cleary Gottlieb acted as legal advisors to Abbott Laboratories.
Robert I. Townsend III, Damien R. Zoubek, J. Leonard Teti II, Jonathan J. Katz, David J. Kappos and Matthew Morreale of Cravath, Swaine & Moore LLP acted as legal advisors for Johnson & Johnson. Edward D. Herlihy, David K. Lam, Victor Goldfeld, John L. Robinson, Zachary S. Podolsky, Stanley E. Richards, Natalie S.Y. Wong, Jeannemarie O’Brien, Michael J. Schobel, Katherine A. O’Neill, Joshua M. Holmes and Swift S.O. Edgar of Wachtell, Lipton, Rosen & Katz acted as legal advisors for Abbott Laboratories. Morgan Stanley acted as financial advisor to Johnson & Johnson Surgical Vision, Inc. Paola Pugliese, Milena Mundim and Vinicius Hercos of Demarest Advogados acted as legal advisor to Johnson & Johnson Surgical Vision, Inc.
Chace LLC completed the acquisition of Abbott Medical Optics Inc. from Abbott Laboratories (NYSE:ABT) on February 27, 2017.
Abbott Laboratories specializes in the research, development, manufacturing and marketing of pharmaceutical and medical products. Net sales break down by family of products as follows:
- diagnostic systems and instruments (39.1%);
- vascular devices (24.7%): endoprosthetic systems, dilation catheters, arterial closures, etc.;
- nutrition products (12.1%): pediatric nutrition products, nutritional supplements, and dietetic products;
- medicine (8.2%): anesthetics, antiviral products, antibiotics, inhibitors, anti-inflammatories, etc.;
- other (15.9%).
Net sales are distributed geographically as follows: the United States (38.5%), Germany (5.8%), China (5.6%), India (4.4%), Switzerland (4.1%), Japan (3.8%), Netherlands (2.7%) and others (35.1%).
ABBOTT LABORATORIES 
