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.
Friday, September 17, 2010
Johnson & Johnson In Talks To Buy Crucell For EUR1.75 Billion