Bloomberg : Sanofi To Explore Counterbid For Actelion Amid J&J Talks

(RTTNews) - Sanofi (SNYNF, SNY) is considering a counterbid for Actelion Ltd., potentially challenging a move by U.S. health-care giant Johnson & Johnson to acquire the Swiss biotechnology firm, Bloomberg reported citing people familiar with the matter.

The French drugmaker is working with advisers as it weighs its options. Sanofi, which has informally made its interest known to Actelion, hasn't made a final decision on whether to proceed with a bid, the report said.

J&J's talks to acquire Actelion are progressing after it increased its offer, ratcheting up pressure on potential counter bidders to move quickly. The U.S. company raised its bid above $250 per share share, report said last week, which would value Actelion at more than $27 billion.

In addition to Sanofi, advisers seeking work with prospective buyers have reached out to other drugmakers, including Roche Holding AG of Switzerland and Pfizer Inc., to gauge potential interest in bidding for Actelion, the report said. It couldn't be determined whether they showed any interest.

Novartis AG CEO Joe Jimenez ruled out a counter-bid for Actelion in an interview with SonntagsBlick newspaper published Sunday, saying the Swiss drugmaker is focused on acquisitions of less than $5 billion.