J&J declares Actelion tender offer a success, sees closing in second quarter

Fri Mar 31, 2017 1:23am EDT
 
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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)

 
FILE PHOTO:Bottles of Johnson's baby oil, made by Johnson & Johnson, are seen on a supermarket shelf in Seattle, Washington, U.S., February 10, 2017.  REUTERS/Chris Helgren