Cravath, Weil Advise J&J In €1.75B Offer For Crucell

Law360, New York (October 7, 2010, 6:07 PM EDT) -- Johnson & Johnson, which owns 17.9 percent of the outstanding shares of Crucell NV, has announced plans to buy the remainder of the Dutch biotechnology firm for €1.75 billion ($2.4 billion).

The companies said in a joint statement Wednesday that they had entered into an agreement under which a J&J affiliate would acquire Crucell’s remaining outstanding equity for €24.75 per share.

The offer is 58 percent higher than the closing price of €15.70 on Sept. 16, and 63 percent more than the 30-day average of €15.20,...
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