Actelion (VTX:ATLN) shares jumped more than 8% to 214 Swiss francs after reports that Sanofi (NYSE:SNY) and the Swiss biotech are nearing a takeover deal that would value Actelion at $29.6 billion.
After Johnson & Johnson (NYSE:JNJ) abandoned its efforts to reach an agreement with Actelion this week, Sanofi stepped in to pursue negotiations. Sanofi is expected to offer Actelion shareholders cash plus contingent value rights, according to Bloomberg. Investors told Reuters that they would push for more information if Sanofi makes such an offer.
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The post Actelion gains on Sanofi deal rumors appeared first on MassDevice.
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