Johnson & Johnson to buy Crucell
J&J is in advanced plans to acquire the Dutch vaccine producer for $2.3 billion.
By Joseph Woelfel, TheStreet
J&J, which already owns 17.9% of Crucell, would acquire the rest for 1.75 billion euros ($2.3 billion), or 24.75 euros a share, in cash.
Crucell closed Thursday at 15.70 euros, making the intended offer a 58% premium.
Crucell makes vaccines and sells a line of cells widely used as a platform for developing vaccines.
The boards of J&J and Crucell have authorized the companies to proceed with the talks for a potential transaction.
The companies expect that Crucell's strength in the manufacturing, discovery and commercialization of vaccines would create a strong platform for J&J in vaccines, the companies said in a statement Friday.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market capped the trading week with losses across the major averages. The S&P 500 fell 0.5% to surrender its weekly gain, while the Dow Jones Industrial Average (-0.7%) and Russell 2000 (-0.9%) underperformed. The two indices posted respective losses of 0.8% and 0.6% for the week.
Equity indices were pressured from the get-go after several heavyweights disappointed the market with their earnings and/or guidance, which led to some broader profit-taking. After ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
VIDEO ON MSN MONEY
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'