shares of abiomed inc abmd rocketed 488 toward a 14month high in premarket trading tuesday after the provider of medical technology that supports circulation and oxygenation agreed to acquired by johnson  johnson jnj in a deal valued at 166 billion under terms of the deal jj will pay upfront 380 in cash for each abiomed share outstanding which represents a 507 premium to mondays closing price of 25208 abiomed shareholders will also receive a nontradeable contingent value right cvr which entitles the holder to receive up to 35 a share in cash if certain commercial and clinical milestones are achieved once the deal is completed which is expected to occur before the end of the first quarter of 2023 abiomed will operate as a standalone business as part of johnson  johnson medtech we have committed to enhancing our position in medtech by entering highgrowth segments said jj chief executive joaquin duato the addition of abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders abiomeds stock has tumbled 298 year to date through monday while jj shares have gained 17 and the dow jones industrial average djia has lost 99