Spoke to JNJ - getting alot of questions here this is what we learned, can only send to US clients if you prefer - -“Aware of the letter at the time. We signed the deal on the 26th and the letter came out on the 24th, we were well aware. And we did a lot of due diligence on ATLN.”
-There is a MAC clause, a very specific MAC clause due to Swiss law, she said. It’s a financial condition for EBIT change for the whole of company (not a drug).
-Demerger agreement will be filed with 8-K this week, prospectus with tender will be filed by 2/16.
-No plans to PR anything, they (JNJ) does NOT deem this worthy of a PR, and no need to issue a PR.
-Reiterated they were very well aware before signing agreement and how much due diligence they did.
-IR handholding as much as they can today, IR busy returning phone calls explaining what they can.