Keyword: Jean-Paul Clozel
It took months, but growth-starved Johnson & Johnson and longtime solo flyer Actelion finally have a deal that’ll make both parties happy.
J&J abandoned its bid for Actelion Tuesday, but another buyer is talking with the Swiss biotech—and according to multiple media reports, Sanofi is it. Next question: At what cost success?
Sanofi has held firm on its M&A requirements since first quoting them last year: Bolt-ons all the way up to a buy a la its $20 billion Genzyme pickup. Would it make an exception for Actelion, now under pursuit by J&J for a reported $27 billion?
J&J's interest in an Actelion takeover hasn't sparked a deal yet, but it has made CEO Jean-Paul Clozel a billionaire. Thing is, Clozel isn't as excited about a deal as his investors are.