Johnson & Johnson has received a binding offer from The Carlyle Group to acquire its Ortho-Clinical Diagnostics business for US$4.15 billion. Cravath represented Johnson & Johnson in connection with this transaction. The acceptance period for the offer will end on March 31, 2014, unless extended. If the offer is accepted by Johnson & Johnson, the proposed transaction would be expected to close toward the middle of the year, pending fulfillment of certain conditions, including regulatory approvals and other customary closing requirements.

The Cravath team included partners Robert I. Townsend III and Damien R. Zoubek and associates Alexander Muller and Stephanie L. Alexis on M&A matters and associate Jarrett R. Hoffman on executive compensation and benefits matters. Ryan M. Farha and Mathieu Francon also worked on M&A matters and Matthew J. Bobby also worked on executive compensation and benefits matters.