J&J Completes Acquisition of Actelion

On June 16, 2017, Johnson & Johnson (J&J) announced that has completed the acquisition of Actelion. Earlier in June, the company said that it received approval from the European Commission, and that all regulatory approvals required to complete the transaction have been received. J&J said that it expected the transcation to close on June 16, 2017. 

The $30-billion acquisition of Actelion by J&J was originally announced on Jan. 26, 2017. As previously announced, as part of the transaction, Actelion will spin out its drug discovery operations and early-stage clinical development assets into a newly created Swiss biopharmaceutical company, Idorsia Ltd. The shares of Idorsia Ltd are expected to be distributed to Actelion's shareholders as a dividend in kind and listed on the SIX Swiss Exchange on the day of the settlement of the public tender offer. A J&J subsidiary will initially hold 9.9% of the shares of Idorsia Ltd and has rights to potentially increase up to 32% through a convertible note.

Source: Johnson & Johnson