Mega acquisition in the chemical-pharmaceutical sector: Johnson & Johnson has announced that it will acquire the Swiss company Actelion for 30 billion dollars. Following the announcement, Actelion soared 20% on the stock market.
The operation, which also provides for the spin-off of the research and development activities of the Basel-based biopharmaceutical group, undermines the French Sanofi which in the past had tried to attack the company.
J&J's offer sees Actelion shareholders receive $280 in cash for each share held, a 23% premium over Wednesday's most recently listed stock price, as well as shares in the new publicly traded research and development company. Stock exchange in which J&J will initially control a 16% stake.
