J&J declares Actelion tender offer a success, sees closing in second-quarter
Reuters
Published Mar 31, 2017 06:21
J&J declares Actelion tender offer a success, sees closing in second-quarter
ZURICH (Reuters) - Johnson & Johnson (N:JNJ) declared its $30 billion (24.02 billion pounds) tender offer for Swiss biotechnology company Actelion (S:ATLN) successful on Friday, reporting it controlled 77.2 percent of the voting rights after the main offer period.
The price of the offer, which J&J announced on Jan. 26, was $280 per share for Actelion. It said it expected the transaction to close in the second quarter.
J&J has said it intends to delist Actelion, while a new research and development company being spun out of Actelion, to be called Idorsia and led by Actelion founder Jean-Paul Clozel, will have a separate Swiss listing.
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Written By: Reuters
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