Johnson & Johnson said the approval of its proposed acquisition of Swiss biotech firm Actelion by the European Commission on Friday meant all regulatory approvals required to complete the $30 billion deal had now been received.
The US company said it expected settlement of the all-cash public tender offer by its Swiss subsidiary, Janssen Holding, on June 16.
EU antitrust regulators on Friday approved Johnson & Johnson’s planned purchase of Actelion subject to conditions intended to ensure clinical development of insomnia drugs were unaffected.
Under the agreement all Actelion shareholders will receive one Idorsia share for each Actelion share held on June 13, 2017 with the new company expected to start trading on the Swiss exchange on June 16.
Full Content: New York Times
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