Deals
J&J to Buy Crucell for $2.3 Billion to Gain Vaccines
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Johnson & Johnson said it will buy the rest of vaccine maker Crucell NV it doesn’t already own for $2.3 billion, expanding in flu shots to bolster sales after two former top-selling drugs lost patent protection.
J&J’s proposal to pay 24.75 euros a share, a 58 percent premium over Crucell’s closing price yesterday, pushed the Dutch company’s stock up the most in 10 years. Crucell, based in Leiden, Netherlands, will urge investors to sell stock to J&J, owner of an 18 percent stake, the companies said in a statement.