Johnson & Johnson Launches Recommended Public Offer to Acquire Crucell
On 8 December 2010, Crucell, who are sponsoring the World Vaccine Congress Washington, and Johnson & Johnson, announced that Johnson & Johnson is making a recommended cash offer for all of the issued and outstanding ordinary shares of Crucell at an offer price of €24.75 per share.
According to DailyFinance.com, Johnson & Johnson has offered to buy all of the shares not held by the Dutch vaccine-maker, Crucell, for a total of $2.3 billion, or $32.94 a share. Johnson & Johnson sees owning Crucell as a chance to expand further into vaccine production and to gain better access to emerging markets.
Crucell currently manufactures vaccines for measles, hepatitis A and B, typhoid and influenza. It also markets a five disease pediatric vaccine. In development are hepatitis C, malaria and cholera vaccines, DailyFinance.com reports. Together, Crucell and Johnson & Johnson have been developing a universal influenza monoclonal antibody and a universal influenza vaccine.