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Friday, September 17, 2010

Johnson & Johnson to takeover Crucell

Johnson & Johnson announced that it is going all out in a public offer to buy all the outstanding shares of Swiss company Crucell. J&J already holds 17.9% of the outstanding shares of Crucell and it is eager to acquire the remaining equity for 24.75 euro per share or 1.75B euro. The all-cash deal would increase Johnson & Johnson's exposure to the vaccine market in which Crucell specializes in manufacture commercialization, and even the discovery of new vaccines. Shares of J&J are flat on the news whereas the Crucell N.V. (ADR) shares are trading up over 54% on the news.