February 16, 2017 / 6:24 AM / 8 months ago

Actelion says J&J's $280 per share offer to start March 3

ZURICH, Feb 16 (Reuters) - Actelion said on Thursday that Johnson & Johnson’s agreed tender offer for the Swiss biotechnology company’s shares is expected to start on March 3 and to run to March 30.

The price is $280 per share, valuing Actelion at $30 billion. Shares of the new research and development company being spun out of Actelion for a Swiss listing will be distributed to Actelion shareholders as a stock dividend prior to settlement of tender offer, it said. (Reporting by John Miller; Editing by Michael Shields)

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