Johnson & Johnson

J&J to Buy Cardio Technology Company Abiomed for $16.6B

New York Stock Exchange post

 Johnson is spending about $16.6 billion to buy cardio

The health care giant says it will pay $380 for each Biomed share and also provide another $35 per share in cash

Budget

$16.6B

J&J says the deal, which is expected to close early next year

Shares of Johnson & Johnson

slipped about 1% to $172.11 in before the opening bell Tuesday.

Budget

$16.6B