Johnson & Johnson (JNJ) signed a definitive deal to acquire Intra-Cellular Therapies (ITCI) for $132 per share in cash for a total equity value of about $14.6 billion, the companies said in a joint statement Monday.
Shares of Intra-Cellular Therapies were up more than 35% in recent premarket activity.
Johnson & Johnson said it plans to fund the transaction using a combination of existing cash and debt and expects to report any potential impact to its adjusted earnings per share on Jan. 22, when it issues its initial guidance for 2025.
The companies said the transaction is expected to close later this year, subject to approvals from regulators and Intra-Cellular stockholders, along with other closing conditions. Intra-Cellular Therapies will cease trading on Nasdaq following the acquisition, the companies added.
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