Johnson & Johnson and Crucell announced an agreement whereby Johnson & Johnson will acquire all outstanding equity of Crucell that it does not already own for approximately € 1.75 billion in a recommended cash tender offer. Johnson & Johnson currently owns 17.9% of Crucell’s outstanding shares. J&J said it “expects to maintain Crucell’s existing facilities, to retain Crucell’s senior management and, generally, to maintain current employment levels. Johnson & Johnson also intends to keep Crucell as the center for vaccines within the Johnson & Johnson pharmaceutical group, and to maintain Crucell’s headquarters in Leiden.  Paul Stoffels, Global Head, Pharmaceutical Research and Development, Johnson & Johnson, commented, “Johnson & Johnson and Crucell share a commitment to improving the lives of people worldwide. This potential combination would provide us with a new platform for growth and advances our goal to deliver integrated health care solutions, with particular emphasis on prevention. Operational excellence in manufacturing and supply chain has made Crucell an established and reliable supplier of vaccines, in particular to emerging markets. We hope to build on those capabilities, and the expertise and talent of Crucell’s employees to continue making a difference in the lives of people worldwide.”
http://www.jnj.com/connect/news/corporate/Johnson-and-Johnson-and-Crucell-Reach-Agreement-on-Intended-Public-Offer-of-Ordinary%20Share-of-Crucell