J&J: Sufficient Number Of Crucell Holders Tender Shares

   DOW JONES NEWSWIRES 
 

Johnson & Johnson (JNJ) said enough shareholders of Dutch biotechnology firm Crucell NV (CRXL, CRXL.AE) have tendered their shares in its EUR1.75 billion cash offer to buy the vaccine maker.

Thursday, J&J said 95% of Crucell's issue share capital, or 84.5 million shares, were either tenders in the offer or were already spoken for by J&J through its own holdings or options to buy them. The tender period ended Wednesday.

Although some major Crucell holders at first protested Johnson & Johnson's EUR24.75-a-share bid as too low, the Van Herk Group--Crucell's second-largest shareholder with an 11.9% stake--made an about face earlier last week and through its support behind the deal.

Now, J&J has until Tuesday to decide whether to make its offer unconditional.

Johnson & Johnson shares were up 0.1% at $60.86 in after-hours trading, while Crucell's American depositary shares closed Thursday at $33.40 and weren't active after hours.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [e-mail]