DOW JONES NEWSWIRES
Johnson & Johnson (JNJ) said enough shareholders of Dutch
biotechnology firm Crucell NV (CRXL, CRXL.AE) have tendered their
shares in its EUR1.75 billion cash offer to buy the vaccine
maker.
Thursday, J&J said 95% of Crucell's issue share capital, or
84.5 million shares, were either tenders in the offer or were
already spoken for by J&J through its own holdings or options
to buy them. The tender period ended Wednesday.
Although some major Crucell holders at first protested Johnson
& Johnson's EUR24.75-a-share bid as too low, the Van Herk
Group--Crucell's second-largest shareholder with an 11.9%
stake--made an about face earlier last week and through its support
behind the deal.
Now, J&J has until Tuesday to decide whether to make its
offer unconditional.
Johnson & Johnson shares were up 0.1% at $60.86 in
after-hours trading, while Crucell's American depositary shares
closed Thursday at $33.40 and weren't active after hours.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com