NEW BRUNSWICK, New Jersey (
Johnson & Johnson
said Wednesday Dutch biotechnology company
agreed to be acquired for €1.75 billion ($2.43 billion).
Johnson & Johnson currently owns 17.9% of Crucell's outstanding shares and will buy the shares it doesn't own for €24.75 a share.
Johnson & Johnson said in September it was in
at that price.
The offer price is a premium of 58% over Crucell's closing price of € 15.70 on Sept. 16, the day before the offer was announced.
Crucell is a maker of vaccines and sells a line of cells widely used as a platform for developing vaccines.
Johnson & Johnson said Wednesday the transaction is expected to close in the first quarter of 2011 and will have a dilutive impact of 3 cents to 5 cents a share to its 2011 earnings.
-- Written by Joseph Woelfel
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