ZURICH Nov 29 Shares in Swiss biotech company
Actelion plunged on Tuesday after a report the company
was not actively considering selling itself, but instead
weighing a "complicated deal" to link with U.S. healthcare giant
Johnson & Johnson.
Actelion shares fell more than 8 percent in early trading,
after having risen sharply over the last four days to value the
company at about $20 billion amid takeover speculation.
Johnson & Johnson approached Actelion Chief Executive
Jean-Paul Clozel expecting him to reject a takeover, so it
instead has focused on another proposal to take a major stake in
the Swiss company while leaving it independent, the Financial
Times reported late on Monday.
Actelion declined to comment on the FT report. A Johnson &
Johnson spokesman also declined comment.
(Reporting by John Miller, editing by Michael Shields)