The public offer values Crucell at €1.75bn ($2.3bn), or €24.74 per share and has the unanimous approval of the firm’s management board.
Speaking earlier this year Johnson & Johnson (J&J) said that the Dutch firm’s strength in vaccine production and manufacturing was the key driver for the deal.
The PER.C6 cell line, developed by in partnership with DSM, is a key element in Crucell’s vaccine production platform and, if the deal completes, a potentially big earner for J&J given that it is already the subject of a number of licensing agreements,