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J & J jettisons Cordis for ~$2B

Mar. 02, 2015 8:55 AM ETJohnson & Johnson (JNJ) StockBy: Douglas W. House, SA News Editor
  • As rumored, Johnson & Johnson (NYSE:JNJ) sells its underperforming Cordis unit to Cardinal Health (CAH), which picks up the interventional vascular technology business for $1.99B. The transaction is expected to close by end of the year.
  • Both stocks are unchanged premarket.
  • Previously: J & J rumored to have found a buyer for Cordis unit (Feb. 23)

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