Deals
J&J Raises Takeover Offer for Europe's Largest Biotech Firm Actelion
- Firm rejected earlier bid of about 246 Swiss francs a share
- J&J reviewing financials, discussing various structures
This article is for subscribers only.
Johnson & Johnson, the world’s biggest maker of health-care products, raised its takeover offer for Actelion Ltd. as negotiations with Europe’s largest biotech firm progress, according to people familiar with the matter.
J&J significantly increased its offer from an earlier bid of about 246 Swiss francs ($242) a share, or $26 billion, which the Swiss company rejected as too low, said the people, asking not to be identified because the deliberations are private. The new price couldn’t be confirmed. Actelion has given J&J access to some of its financial information as part of the negotiations, they said.