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Johnson & Johnson Announces Definitive Agreement to Acquire Micrus Endovascular
Date:7/12/2010

NEW BRUNSWICK, N.J. and SAN JOSE, Calif., July 12 /PRNewswire-FirstCall/ -- Johnson & Johnson (NYSE: JNJ) and Micrus Endovascular Corporation (Nasdaq: MEND), a global developer and manufacturer of minimally invasive devices to address hemorrhagic and ischemic stroke, today announced a definitive agreement whereby Micrus Endovascular will be acquired in a cash for stock exchange.

Under the terms of the agreement, Micrus Endovascular stockholders will receive at closing $23.40 for each outstanding Micrus Endovascular share.  The value of the transaction as of the anticipated closing date is estimated to be approximately $480 million, based upon Micrus Endovascular's 20.5 million fully diluted shares outstanding.

The boards of directors of Johnson & Johnson and Micrus Endovascular have approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar regulation in other countries, Micrus Endovascular stockholder approval and other customary closing conditions.

Micrus Endovascular will join Codman & Shurtleff, Inc., the neuro device business of the DePuy Family of Companies within Johnson & Johnson.  Codman and Micrus Endovascular offer innovative and complementary technologies for treating cerebral aneurysms responsible for hemorrhagic stroke.  The Codman neurovascular portfolio includes bare platinum coils, vascular reconstruction devices (VRDs) and access devices.  Micrus Endovascular, solely focuse
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