u s bancorp

• Johnson & Johnson (NYSE: JNJ) definitive agreement to acquire Omrix Biopharmaceuticals, Inc. (Nasdaq: OMRI) for approximately $438 million in a cash tender offer.
  
  Under the terms of the agreement, Johnson & Johnson will commence a tender offer to purchase all outstanding shares of Omrix at $25.00 per share, which is expected to close by the end of December 2008.
• U.S.
  
  Bancorp (NYSE: USB) acquired the banking operations of two separate California financial institutions from the Federal Deposit Insurance Corporation.

U.S. Bancorp says its third-quarter profit fell 47 percent, below analysts' expectations, as it took hits on investments and set aside a bigger provision for credit losses.

U.S. Bancorp says its first-quarter earnings fell 4 percent due to impairment charges and rising loss reserves.

The Minneapolis-based bank says it earned $1.09 billion, or 62 cents per share down from $1.13 billion, or 63 cents per share, during the same period last year.

Analysts polled by Thomson Financial, on average, expected earnings of 61 cents per share.