AMSTERDAM -(Dow Jones)- Johnson & Johnson (JNJ: 61.30 ,0.00 ,0.00%) is in advanced negotiations to acquire Dutch biotech company Crucell NV (CRXL.AE) for EUR1.75 billion, the two companies announced Friday.
Johnson & Johnson, through an affiliate, currently holds approximately 17.9% of the outstanding shares of Crucell, and the EUR24.75 per share offer Friday is for the outstanding shareholding.
Crucell's shares closed Thursday at EUR15.70.
The companies said the although Johnson & Johnson's due diligence is substantially complete, the transaction remains subject to negotiation of terms of a definitive agreement and receipt of internal approvals of Johnson & Johnson management and the management and supervisory boards of Crucell.
Johnson & Johnson said it intends to keep Crucell as the center for vaccines within the Johnson & Johnson pharmaceutical group, and to maintain Crucell's headquarters in Leiden.
Looking beyond the spin of Big Pharma PR. But encouraging gossip. Come in and confide, you know you want to! “I’ll publish right or wrong. Fools are my theme, let satire be my song.” Email: jackfriday2011(at)hotmail.co.uk
Friday, September 17, 2010
Johnson & Johnson In Talks To Buy Crucell For EUR1.75 Billion
via foxbusiness.com
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