J aiming to buy vaccine maker Crucell for
J which already owns 17.9 percent of Crucell, said on Friday its potential cash offer valued Crucell Canada Goose Coats On Sale shares at 24.75 euros, a 58 percent premium to Thursday closing price.
Crucell shareholder Van Herk Group, which holds a 9.6 percent stake and is the second biggest investor after J said the intended canada goose outlet offer was and too early.
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canada goose outlet toronto factory Crucell shares rose 55.5 percent to 24.41 euros. canada goose outlet toronto factory
J canada goose uk shop shares fell 8 cents to $61.21 on the New York Stock Exchange.
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canada goose black friday sale But Van Herk managing director Gertjan van der Baan told Reuters he had been in contact with other shareholders who share Van Herk views and he would be contacting other investors as well as J to discuss the potential offer. canada goose black friday sale
canada goose outlet jackets Van der Baan, who said Crucell low risk nature and strong cash generation were undervalued by the market, said no decision had been taken yet on whether to tender the group shares to a J offer, if it eventually emerges. One UK based cheap Canada Goose analyst, who declined to be named, said J was unlikely to bid for the two companies at the same time, but other analysts said the Crucell deal did not rule out http://www.canadagoosecanadaoutlet.com J as a Genzyme suitor given J financial muscle. canada goose outlet canada goose clearance sale jackets
canada goose outlet uk Crucell Chief Executive Ronald Brus said the potential deal with J which does not canada goose store have its own vaccine business, meant the world sixth largest vaccine producer can accelerate its development program. canada goose outlet uk
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canada goose outlet store uk Brus said he intended to stay on and did not expect any lay offs at Crucell, which makes vaccines against flu and childhood diseases and is developing products against yellow fever alongside research into tuberculosis and malaria. canada goose outlet store uk
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Indeed, the Crucell deal comes on the heels of J announcement on Thursday of the retirement of its longtime head of consumer canada goose coats products.
J bought its stake in Crucell, one of two major independent vaccine makers canada goose uk black friday in Europe alongside Intercell, in September 2009 as part of a flu vaccine development deal.
canada goose outlet sale Crucell is on the cusp of sharp sales growth for its pediatric vaccine Quinvaxem after a production failure at rival Shantha Biotechnics, which was bought by Sanofi Aventis last year for 6.1 times its annual sales. canada goose outlet sale
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Shantha lost prequalification status to supply the World Health Organisation (WHO) with its childhood vaccine in July.
Two industry bankers said the offer was unlikely to spark a bidding war for Crucell, given that rivals would have had the chance cheap canada goose uk to bid for the Dutch company when it was up for sale roughly two years ago.
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Rabo Securities analyst Fabian Smeets canada goose factory sale said Britain GlaxoSmithKline and Sanofi Aventis, who have their own vaccine operations, were unlikely to bid as Swiss firm Novartis could then break a partnership in which it supplies components for Crucell childhood vaccines.
But brokerage Jefferies International said Novartis and Pfizer might still be potential bidders. Takeover talks between Wyeth and Crucell broke down last year after Pfizer bid for Canada Goose Online Wyeth in a series of mega mergers in the pharma industry.
J said canada goose coats on sale on Friday its due diligence is largely complete, but any deal remained subject to negotiation of a definitive agreement and customary pre offer conditions, including consultation with Crucell works council and trade unions.
canada goose outlet online uk canada goose Brus said the deal could close by the end of the year and Crucell supervisory and management boards would recommend shareholders tender their shares to the offer canada goose outlet online.