Johnson & Johnson Agrees to Sell Blood Testing Unit

JNJSubject to customary regulatory approvals, Carlyle Group LP agreed to acquire Johnson & Johnson’s (NYSE: JNJ – $94.68) blood-testing business for $4.15 billion. Carlyle won out over a team of Blackstone Group LP and conservative buttonwoodproject candidate Danaher Corp. (NYSE: DHR – $78.50) in an auction for the division. While JNJ’s Ortho-Clinical Diagnostic business would have fit in nicely with Danaher’s growing healthcare segments, the transaction was getting a bit too pricey for the value savvy Danaher team. Originally, it was thought that the business would be worth upwards of $5 billion. Both JNJ and DHR can be held in their respective portfolios.

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