Stub­born Acte­lion CEO Clozel spurs shift in buy­out talks, but J&J coun­ters with a raised bid -- re­ports

Acte­lion was nev­er go­ing to be an ea­ger part­ner in any takeover at­tempt. The Swiss biotech’s CEO, Jean-Paul Clozel, has stub­born­ly re­sist­ed ear­li­er at­tempts to force a change in own­er­ship. And now The Fi­nan­cial Times is re­port­ing that his stol­id at­ti­tude spurred J&J to start in­ves­ti­gat­ing a pos­si­ble tie-up rather than an out­right buy­out.

The FT team re­ports that Clozel was pre­dictably re­sis­tant to J&J’s over­ture to ac­quire the com­pa­ny, which boost­ed Acte­lion’s mar­ket cap to about $20 bil­lion. Its shares dropped, though, af­ter the FT’s re­port that J&J may pur­sue the more com­pli­cat­ed ap­proach of buy­ing in­to the com­pa­ny in a move that would still leave Acte­lion act­ing as an in­de­pen­dent en­ti­ty.

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