J&J declares Actelion tender offer a success, sees closing in second quarter
ZURICH (Reuters) - Johnson & Johnson (JNJ.N: Quote) declared its $30 billion tender offer for Swiss biotechnology company Actelion (ATLN.S: Quote) 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.
(Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)
© Thomson Reuters 2017 All rights reserved.