J&J accepts binding offer from Platinum Equity to acquire LifeScan

Johnson and Johnson has accepted the binding offer from Platinum Equity, previously announced on March 16, 2018, to acquire its LifeScan business for approximately USD 2.1 billion. LifeScan, Inc. is a world leader in blood glucose monitoring and maker of the OneTouch brand of products. This acceptance was made after consultation with relevant works councils and trade unions. The transaction is expected to close by the end of 2018, subject to the satisfaction of regulatory clearances and other customary closing conditions.