Hedge funds betting on J&J after Actelion remains silent on takeover bid

Despite reports this week that Actelion Pharmaceuticals (VTX:ATLN) rejected Johnson & Johson‘s (NYSE:JNJ) 2nd takeover bid, hedge funds are piling into the Swiss biotech firm, encouraged by Actelion’s silence on the matter.

The 2 companies have been engaged in informal talks for 2 months, according to Reuters, and the latest offer was pegged at 250 Swiss francs per share. J&J’s $270 billion bid for Actelion is tempting to shareholders, who would rather have the cash now than wait and bet on Actelion CEO Jean-Paul Clozel’s risky pipeline for therapeutics of rare diseases.

Get the full story at our sister site, Drug Delivery Business News.

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