J&J sticks with $2.4 billion bid for Crucell

U.S. personal care group Johnson & Johnson (JNJ.N) said Dutch biotech company Crucell (CRCL.AS) was recommending an unchanged cash offer of 24.75 euros per share despite some investors holding out for more.

Crucell management will recommend shareholders accept J&J's 1.75 billion euros ($2.4 billion) offer which represents a 58 percent premium over Crucell's closing price on September 16, a day before takeover talks were announced, the two companies said.

"I am looking forward to Crucell becoming a Johnson & Johnson company," Crucell chief executive Ronald Brus said on Wednesday.

Read Full Article from Reuters

- Posted: 2010-10-06 04:45:37

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