Johnson & Johnson in talks to buy Dutch biotech firm Crucell for $2.29 billion
By APFriday, September 17, 2010
Johnson & Johnson plans to buy Crucell for $2.3B)
AMSTERDAM — 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.
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