Carlyle Partners VI, L.P., managed by The Carlyle Group LP (NasdaqGS:CG), entered into a binding offer to acquire Ortho-Clinical Diagnostics, Inc. from Johnson & Johnson (NYSE:JNJ) for approximately $4 billion on January 16, 2014. Carlyle Group secured committed debt financing from Barclays, Goldman Sachs, Credit Suisse, UBS and Nomura. Carlyle Partners VI, L.P. provided the equity for the deal. Ortho-Clinical Diagnostics generates revenues of $1.89 billion. The transaction is subject to anti-trust approval, regulatory approvals and other customary closing conditions. The acceptance period for the offer will end on March 31, 2014, unless extended. If the offer is accepted by Johnson & Johnson, the proposed transaction would be expected to close toward the middle of 2014.

As of March 31, 2014, the transaction was accepted by Johnson & Johnson. As announced on June 16, 2014, Robert Yates will be appointed as Chief Operating Officer and to the Board of Directors of Ortho-Clinical and will report directly to OCD Chairman and Chief Executive Officer, Martin Madaus.

JPMorgan Chase & Co acted as financial advisor for Johnson & Johnson. Barclays Capital Inc. and The Goldman Sachs Group, Inc. (NYSE:GS) acted as financial advisors while David Brown, Denis Criton, Nathalie Alibert, Daniel Lennon, Gaëtan Gianasso, Jérôme Commerçon, Michel Houdoyer, Stefano Sciolla, Luca Pocobelli, Cesare Milani, Giovanni Spedicato, Olav Gianmaria Taraldsen, Marcello Bragliani and Erika Brini Raimondi, Hiroki Kobayashi, Saori Kawakami, Ignacio Pallares, Ignacio Dominguez, Carmen Esteban, Richard Butterwick, Hyo Joo Kim, Sarah Gadd, Kendall Burnett, Cyril Boulignat, Coline Dermersedian, Sebastian Pauls and Marion Schuster of Latham & Watkins LLP acted as legal advisor to Carlyle. Robert I. Townsend III, Damien R. Zoubek, Alexander Muller, Stephanie L. Alexis, Jarrett R. Hoffman, Ryan M. Farha, Mathieu Francon and Matthew J. Bobby of Cravath, Swaine & Moore LLP along with Jonathan Stevens of Baker & McKenzie, LLP and Paul Yde and Mary Lehner of Freshfields Bruckhaus Deringer LLP acted as legal advisors for Johnson & Johnson. Jonas Koponen, Gerwin Van Gerven, Ivo Onkelinx, Paul Van Hooghten, Marcus Pollard, Mar Garcia, Fay Zhou, Yuan Cheng, Nikolaas Van, Robbroeck, Olaf Kroon, Boudewijn Niels, Philippe Remels, Felix Dobbelaere, Jae Suk Vanwijngaerden, Marie Centner and Bart Jan Kuck of Linklaters acted as financial advisors to Johnson & Johnson.

Brian Pukier, Kevin Smyth, Aniss Amdiss, Kenton Rein, Scott Perrin, Jamie Templeton, Nancy Ramalho, Luc Vaillancourt, Katy Pitch and Kyle Lamothe of Stikeman Elliott LLP acted as the legal advisors to The Carlyle Group LP. Cahill represented Barclays Bank plc as administrative agent and lead arranger and the other lead arrangers in connection with a $2.18 billion Term B loan and a $350 million revolving credit facility for the transaction. Christopher Page and Sherwin Lin of Conyers Dill & Pearman Pte. Ltd. acted as legal advisors to The Carlyle Group LP. Pierre Nijnens, Niels Wolswijk, Mark Rebergen of De Brauw Blackstone Westbroek PC acted as the legal advisor for The Carlyle Group LP. Sara Biglieri, Alice Lo Presti and Ferdinand Bonofiglio of Rucellai & Raffaelli acted as the legal advisors to Johnson & Johnson. Marc Elvinger, Virginie Lepage, Matthias Le Pan, Christophe Nicolay of Arendt, Arturo Perdomo and Cecilia Díaz de Rivera of Galicia Abogados, Alvaro J. Altamirano of Altamirano y Estudillo, Campos Ferreira, Antonio Rocha Mendes and Margarida Pais de Sousa of Sá Carneiro & Associados, Eva Diez-Ordas of Garrigues, Claude Lambert, Natalie Hoegger, Andrea Hoffman of Homburger acted as legal advisors in the transaction. Robert Bachner and Rita Wittmann of SchoenHerr, Thomas Pouppez, Olivier Clevenbergh and Laurent Verhavert of Strelia, Ondrej Manek, Lenka Kucerova and Jan Kotous of Wolf Theiss acted as legal advisors in the deal.