- Reuters•24 minutes ago
Actelion's silence speaks volumes to the dozens of event-driven hedge funds piling into the Swiss biotech firm, betting that Johnson & Johnson's (J&J) approach will result in an outright takeover and handsome returns. A source familiar with the matter has told Reuters the two companies are discussing a bid of close to $27 billion, or 250 Swiss francs ($248) per share, which is 25 percent above Actelion's current share price. Both companies have confirmed that U.S. diversified healthcare group J&J - maker of Pizbuin sun screen, surgical tools and arthritis drug Remicade - has approached Actelion about a potential takeover, but kept mum on details.
J&J will appeal $1 billion in punitive damages to six people injured by a hip implant. The plaintiffs' lawyer argued two losses in Pinnacle cases should convince J&J to settle.
JNJ : Summary for Johnson & Johnson Common Stock - Yahoo Finance
Johnson & Johnson (JNJ)
NYSE - NYSE Delayed Price. Currency in USD
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|Bid||111.75 x 100|
|Ask||112.04 x 100|
|Day's Range||111.44 - 112.53|
|52 Week Range||94.28 - 126.07|
Trade prices are not sourced from all markets
|PE Ratio (TTM)||19.65|
|Dividend & Yield||3.20 (2.87%)|
|1y Target Est||N/A|