Minimum Acceptance Condition Satisfied
(Thomson Reuters ONE) -
New Brunswick, N.J., and Leiden, the Netherlands, February 17, 2011 - Johnson &
Johnson (NYSE: JNJ) and Crucell N.V. (NYSE Euronext, NASDAQ: CRXL; Swiss
Exchange: CRX) today announced that the minimum acceptance condition of Johnson
& Johnson's Offer to acquire Crucell N.V. (Crucell) has been satisfied. The
initial offering period of the Offer expired at 17:45 hours Dutch time (11:45
a.m. New York time) on 16 February 2011.
Reference is made to the joint press release of Johnson & Johnson and Crucell
dated 8 December 2010 announcing the recommended cash offer by Johnson &
Johnson, through its indirect wholly owned subsidiary, JJC Acquisition Company
B.V. (the Offeror), for all of the issued and outstanding shares in the capital
of Crucell, including those represented by American depositary shares, at an
offer price of ?24.75 per share (the Offer).
As of the expiration of the initial offering period, the shares tendered in the
Offer, together with shares already held by the Johnson & Johnson Group and the
shares to be acquired through the purchase and exercise of options, amount to
84,520,377 shares (of which 12,774,957 are represented by American depositary
shares), representing approximately 95.21% of the issued share capital of
Crucell and 95.24% of the issued and outstanding share capital of Crucell, in
each case on a fully diluted basis. 174,595 of ADSs tendered remain subject to
the guaranteed delivery procedures described in the Offer. As such, the minimum
acceptance condition has been satisfied.
It should be noted that even though 95.24% of the issued and outstanding share
capital of Crucell (on a fully diluted basis) has been tendered, the minimum
acceptance condition would have nonetheless been satisfied because Johnson &
Johnson has now obtained a favorable ruling from the Internal Revenue Service of
the United States and, as of the expiration of the initial offering period,
received proxies (or will have obtained the voting power) in respect of
approximately 93.32% of Crucell shares.
Johnson & Johnson will announce whether or not the Offer is declared
unconditional no later than Tuesday 22 February 2011 in accordance with the
terms of the Offer and Article 16 of the Dutch Decree on Public Takeover Bids
(Besluit openbare biedingen Wft).
Additional Information
This joint press release is issued pursuant to the provisions of Section 4
paragraph 3 of the Dutch Decree on Public Takeover Bids (Besluit openbare
biedingen Wft) and Section 5:25i of the Dutch Financial Markets Supervision Act
(Wet op het financieel toezicht).
On 8 December 2010, the Offeror commenced the Offer to acquire all of the issued
and outstanding ordinary shares (Ordinary Shares) in the capital of Crucell,
including all Ordinary Shares represented by American depositary shares (each,
an ADS), on the terms and subject to the conditions and restrictions contained
in the Offer Document dated 8 December 2010 (the Offer Document). Shareholders
who accepted the Offer and tendered Ordinary Shares will be paid, on the terms
and subject to the conditions and restrictions contained in the Offer Document,
an amount equal to ?24.75, net to the Shareholders in cash, without interest and
less any applicable withholding taxes (the Offer Price) in consideration of each
Ordinary Share, subject to the Offeror declaring the Offer unconditional.
Shareholders who accepted the Offer and tendered ADSs will be paid, on the terms
and subject to the conditions and restrictions contained in the Offer Document,
an amount equal to the U.S. dollar equivalent of the Offer Price, calculated by
using the spot market exchange rate for the U.S. dollar against the Euro on the
date on which funds are received by Computershare Trust Company, N.A. to pay for
ADSs upon completion of the Offer, in consideration of each ADS, subject to the
Offeror declaring the Offer unconditional. The offer and withdrawal rights
expired at 17:45 hours Dutch time (11:45 a.m. New York time), on 16 February
2011, unless extended in the manner set forth in the Offer Document. This press
release is neither an offer to purchase nor a solicitation of an offer to sell
shares of Crucell, nor shall there be any sale or purchase of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction. The Offer is being made pursuant to the tender offer statement on
Schedule TO (including the Offer Document, a related ADS letter of transmittal
and tender and proxy form, and other relevant materials) filed by the Offeror
with the U.S. Securities and Exchange Commission (SEC) on 8 December 2010.
SHAREHOLDERS OF CRUCELL ARE URGED TO READ THESE AND OTHER DOCUMENTS FILED WITH
THE SEC CAREFULLY IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION
ABOUT THE OFFER. Copies of Johnson & Johnson's filings with the SEC may be
obtained at the SEC's web site (www.sec.gov) or by directing a request to
Johnson & Johnson at Johnson & Johnson, One Johnson & Johnson Plaza, New
Brunswick, NJ 08933, U.S.A. (Attention: Corporate Secretary's Office). The
Offer Document is available free of charge on the website of Crucell at
www.crucell.com. Hard copies of the Offer Document will also be available at
the offices of Crucell at Archimedesweg 4-6, 2333 CN Leiden, the Netherlands; at
the offices of the Dutch Settlement Agent, ING Bank N.V., Bijlmerdreef 888 1102
MG Amsterdam, the Netherlands (Attention: Sjoukje Hollander/Remko Los),
telephone: + 31 20 563 6546 / + 31 20 563 6619, email: iss.pas(at)ing.nl); and at
the offices of the U.S. Settlement Agent, Computershare Trust Company, N.A.,
250 Royall Street, Canton, MA 02021.
About Crucell
Crucell N.V. (NYSE Euronext, NASDAQ: CRXL; Swiss Exchange: CRX) is a global
biopharmaceutical company focused on research development, production and
marketing of vaccines, proteins and antibodies that prevent and/or treat
infectious diseases. In 2010 alone, Crucell distributed more than 105 million
vaccine doses in more than 100 countries around the world. Crucell is one of the
major suppliers of vaccines to UNICEF and the developing world. Crucell was the
first manufacturer to launch a fully-liquid pentavalent vaccine. Called
Quinvaxem®, this innovative combination vaccine protects against five important
childhood diseases. Over 180 million doses have been sold since its launch in
2006 in more than 50 GAVI countries. With this innovation, Crucell has become a
major partner in protecting children in developing countries. Other products in
Crucell's core portfolio include a vaccine against hepatitis B and a virosome-
adjuvanted vaccine against influenza. Crucell also markets travel vaccines, such
as an oral anti-typhoid vaccine, an oral cholera vaccine and the only aluminum-
free hepatitis A vaccine on the market. Crucell has a broad development
pipeline, with several product candidates based on its unique PER.C6® production
technology. Crucell licenses its PER.C6® technology and other technologies to
the biopharmaceutical industry. Important partners and licensees include Johnson
& Johnson, DSM Biologics, sanofi-aventis, Novartis, Pfizer/Wyeth, GSK, CSL and
Merck & Co. Crucell is headquartered in Leiden, the Netherlands, with offices in
China, Indonesia, Italy, Korea, Malaysia, Spain, Sweden, Switzerland, UK, the
USA and Vietnam. Crucell employs over 1300 people. For more information, please
visit www.crucell.com.
About Johnson & Johnson
Caring for the world, one person at a time.inspires and unites the people of
Johnson & Johnson. We embrace research and science - bringing innovative ideas,
products and services to advance the health and well-being of people. Our
approximately 114,000 employees at more than 250 Johnson & Johnson companies
work with partners in health care to touch the lives of over a billion people
every day throughout the world.
Forward-looking statements
(This press release contains "forward-looking statements". All statements other
than statements of historical fact are statements that could be deemed forward-
looking statements. These statements are based on current expectations of future
events. If underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially from Johnson &
Johnson's and Crucell's expectations and projections. Risks and uncertainties
include the fact that the transaction is conditioned on the successful tender of
the outstanding ordinary shares of Crucell, the receipt of required government
and regulatory approvals and certain other customary closing conditions; general
industry conditions and competition; general domestic and international economic
conditions, such as interest rate and currency exchange rate fluctuations;
technological advances and patents attained by competitors; challenges inherent
in new product development, including obtaining regulatory approvals; domestic
and foreign health care reforms and governmental laws and regulations affecting
domestic and foreign operations; and trends toward health care cost containment.
In addition, if and when the transaction is consummated, there will be risks and
uncertainties related to Johnson & Johnson's ability to successfully integrate
the products and employees of Johnson & Johnson and Crucell as well as the
ability to ensure continued performance or market growth of Crucell's products.
A further list and description of these risks, uncertainties and other factors
and the general risks associated with the respective businesses of Johnson &
Johnson and Crucell can be found in Exhibit 99 of Johnson & Johnson's Annual
Report on Form 10-K for the fiscal year ended 3 January 2010, and Crucell's
Annual Report/ Form 20-F for the fiscal year ended 31 December 2009, as filed
with the U.S. Securities and Exchange Commission on 7 April 2010, as well as
other subsequent filings. Crucell prepares its financial statements under
International Financial Reporting Standards (IFRS). Copies of these filings are
available online at www.sec.gov, www.jnj.com, www.crucell.com or on request from
Johnson & Johnson or Crucell. Neither Johnson & Johnson nor Crucell undertakes
to update any forward-looking statements as a result of new information or
future events or developments.)
For further information please contact:
Crucell N.V. - Media & Investors
Oya Yavuz
Vice President Corporate Communications & Investor Relations
Tel. +31 (0)71 519 7064
ir(at)crucell.com
www.crucell.com
Johnson & Johnson - Media
Karen Manson Bill Price
Mob. + 32 479 89 47 99 Tel. +1 (732) 524 6623
Mob. +1 (732) 668 3735
Johnson & Johnson - Investors
Louise Mehrotra Stan Panasewicz
Tel. +1 (732) 524 6491 Tel. +1 (732) 524 2524
###
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Source: Crucell N.V. via Thomson Reuters ONE
[HUG#1490365]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2011 - 23:00 Uhr
Sprache: Deutsch
News-ID 51658
Anzahl Zeichen: 13016
contact information:
Town:
Leiden
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Minimum Acceptance Condition Satisfied"
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