Sector News

J&J declares Actelion tender offer a success

March 31, 2017
Life sciences

Johnson & Johnson declared its $30 billion tender offer for Swiss biotechnology company Actelion 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.

By Michael Shields

Source: Reuters

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