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Actelion confirmed it was in talks with J&J on Nov. 25, without
giving details. Media reports suggested an initial bid of 246
Swiss francs had been rejected, while subsequent reports have
suggested a revised bid of around 250 Swiss francs and the
potential for rival companies to also table an offer.
"If J&J is willing to consider a price higher than the one which
has been quoted in the press as an initial offer, it could be a
fair price for a straightforward acquisition of the business,"
the investor said.
"However, a more complex deal, involving a partial combination
would not be beneficial for the remaining Actelion
shareholders."
A tie-up with J&J could also represent a "win-win" for
Actelion's shareholders and employees, the investor said, as J&J
had a good track record of giving its research and development
operations "freedom to innovate".
(Reporting by Simon Jessop; Editing by Rachel Armstrong)
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