Behind the scenes of J&J’s $30B Actelion buyout: Walkouts, Sanofi’s blunder and a $230M sweetener
Sanofi may understand how to jump into a buyout negotiation, but they still have a long way to go before understanding how to close a big deal.
In a prospectus published early today, Actelion explained how J&J’s Joaquin Duato and Paul Stoffels first broached a deal at the beginning of 2016, pushing past a collaboration counter offer to advance takeover talks right to the end of the year. And after a temporary rupture, J&J came back to win the deal with a $30 billion bid and a rich $230 million pact on an experimental therapy that the Actelion board is spinning into a new company.
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