J&J Reportedly Makes Takeover Approach For Actelion

(RTTNews) - Johnson & Johnson (JNJ) has approached Swiss biotechnology firm Actelion Ltd (ALIOF.PK) about a potential takeover, Bloomberg reported citing people familiar with the matter.

The report indicated that deliberations are still at an early stage following J&J's initial offer. Actelion is working with an adviser to explore options, and any discussions may not lead to a transaction.

While Actelion, Europe's largest biotech firm, has been named as a potential takeover target for years, Chief Executive Officer and co-founder Jean-Paul Clozel has previously said the company planned to remain independent. The 61-year-old, who is one of Actelion's largest shareholders, may now be more open to entertaining a sale at a sufficient premium, the report said.

Actelion shares have risen 13 percent this year, valuing it at almost $17 billion.