Johnson & Johnson and Crucell today announced that the European Commission has granted approval for Johnson & Johnson's proposed acquisition of Crucell.
Reference is made to the joint press release of Johnson & Johnson and Crucell N.V. dated 8 December 2010 announcing the recommended cash offer by Johnson & Johnson for all of the issued and outstanding ordinary shares in the capital of Crucell N.V. (Crucell), including those represented by American depositary shares, at an offer price of euro 24.75 per share (the Offer).
With this approval an important Offer condition has been fulfilled.
As announced on 8 December 2010, the remaining timetable of the Offer process is as follows:
- 8 February 2011: the Offer Extraordinary General Meeting (Offer EGM).
- 16 February 2011, 17:45 hours Dutch time (11:45 a.m. New York time), unless extended: Acceptance Closing Time.