Actelion (ALIOY) Said to Attract Takeover Interest - Source
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Switzerland-based Actelion has attracted takeover interest, according to a person claiming to have knowledge of the matter. The source hinted that the mystery buyer is likely a major U.S.-based pharmaceutical company, but he wouldn't reveal the bidder’s name or the offer price. The ADR's of Actelion trade thinly in the U.S. under the ticker symbol (OTC: ALIOY).
Actelion has an enterprise value of over $16 billion, and if it agreed to be acquired before the end of the year it would be among the largest pharma deals of 2016.
New Jersey-based Johnson & Johnson (NYSE: JNJ) and Paris-based Sanofi (NYSE: SNY) were previously mentioned as potential suitors for the Swiss drug company, but Actelion management has in the past been quick to downplay the idea that it’s a takeover target.
"If we want to continue to create shareholder value, the best for us is to remain independent," Actelion's CEO Jean-Paul Clozel told Bloomberg during an interview in April, days after a rumor surfaced.
Actelion, Johnson & Johnson, and Sanofi didn't respond to requests to comment.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Verizon Communications (VZ) May Acquire Big Cable Company - NYP (CHTR) (CMCSA)
- Toshiba considering spinning off semiconductor operations and selling a stake to Western Digital (WDC) - Nikkei
- Eli Lilly (LLY) to Acquire CoLucid Pharmaceuticals (CLCD) for $960M
Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!