Actelion (ALIOY) Said to Attract Takeover Interest - Source

November 23, 2016 3:15 PM EST
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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.

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