- Reuters•22 hours ago
Novartis Chief Executive Joe Jimenez has played down suggestions the Swiss drugmaker could bid for Swiss biotech group Actelion, which is in talks with U.S. healthcare group Johnson & Johnson about a transaction. Asked by Swiss Sunday newspaper SonntagsBlick whether Novartis could emerge as a white knight, he said: "We have always said that we will concentrate on complementary acquisitions in the range of $2 billion to $5 billion." He did not elaborate. Actelion is worth nearly $20 billion at Friday's closing price.
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.
JNJ : Summary for Johnson & Johnson Common Stock - Yahoo Finance
Johnson & Johnson (JNJ)
NYSE - NYSE Delayed Price. Currency in USD
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|Bid||111.93 x 400|
|Ask||112.89 x 200|
|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 (2.86%)|
|1y Target Est||N/A|