Johnson & Johnson Accepts Platinum Equity's Offer To Buy LifeScan For $2.1 Bln

(RTTNews) - Johnson & Johnson (JNJ) Tuesday said it has accepted an offer from Platinum Equity to acquire its LifeScan business for about $2.1 billion.

LifeScan Inc. is popular for its blood glucose monitoring products, including the OneTouch brand of products, with 2017 net revenue of around $1.5 billion.

On March 16, Johnson & Johnson received an offer from Platinum Equity, a private investment firm, to buy its LifeScan business for about $2.1 billion

"This acceptance was made after consultation with relevant works councils and trade unions," JNJ said in a statement.

The transaction is expected to close by the end of 2018, subject to the satisfaction of regulatory clearances and other customary closing conditions.