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Micrus merger agreement with J&J gets stockholder approval

Micrus Endovascular has received its stockholders approval for a proposal to adopt the merger agreement which provides that Micrus is to become a wholly-owned subsidiary of Johnson & Johnson (J&J), among other business, at its 2010 annual meeting of stockholders.

In addition, Micrus’ stockholders have voted in favor of all proposals presented at the annual meeting, including the re-election of the two members of company’s board of directors.

Upon completion of the merger, Micrus will become a wholly-owned subsidiary of J&J and each share of common stock of Micrus will be converted into the right to receive $23.40 in cash.

The consummation of the merger remains subject to the satisfaction or waiver of certain closing conditions set forth in the merger agreement and the companies expect to complete the merger during the second half of 2010.

Micrus develops, manufactures and markets implantable and disposable medical devices for use in the treatment of cerebral vascular diseases.