J&J Says Actelion Tender Offer a Success, Sees Closing in 2Q

Industries Reuters

The company's logo is seen at the headquarters of Swiss biotech company Actelion in Allschwil, Switzerland (Copyright Reuters 2017)

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.

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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.

 

(Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)