Johnson & Johnson plans to buy Crucell for euro1.75B
The Associated Press, Amsterdam, the Netherlands | Business | Fri, September 17 2010, 2:37 PM
Crucell NV, the Leiden-based biotech company, says it is in advanced talks to be acquired by Johnson & Johnson of the U.S., the world's largest health care products maker.
Crucell says Johnson Johnson, which already owns a 17.9 percent stake in the Dutch company, intends to offer euro24.75 per share in cash for the remainder of Crucell, or around euro1.75 billion ($2.29 billion) in all.
That's a 58 percent premium to Crucell's closing price Thursday of euro15.70.
Crucell makes vaccines and sells a line of cells widely used as a platform for developing vaccines.
