According to the WSJ, J&J will proceed with its $2.27 B acquisition of Crucell, but reserves the right to modify the deal should Crucell experience more difficulty with its manufacturing in South Korea. Crucell was forced to stop shipments of two vaccines due to sterility issues in late October.
The Dutch market regulator Autoriteit Financiele Markten (AFM) said that once it has approved the merger, the rules to amend an offer are very strict, making it difficult to adjust the bid. J&J expects to get final approval before the Crucell general shareholder meeting on December 10th.
Posted by Bruce Lehr December 3rd 2010.
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