>>> FT AlphaVille : Actelion - have a look



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To Switzerland, specifically.
12:15 pm
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Because .....
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Switzerland-based Actelion has attracted takeover interest, according to a person claiming to have knowledge of the matter. The source hinted that the mystery buyer is likely a major U.S.-based pharmaceutical company, but he wouldn't reveal the bidder’s name or the offer price. The ADR's of Actelion trade thinly in the U.S. under the ticker symbol (OTC: ALIOY).
12:16 pm
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New Jersey-based Johnson & Johnson (NYSE: JNJ) and Paris-based Sanofi (NYSE: SNY) were previously mentioned as potential suitors for the Swiss drug company, but Actelion management has in the past been quick to downplay the idea that it’s a takeover target.
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,,,,,,,, So ................
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We, along with every other M&A hack in the Western world, have been chasing this story for about a month.
12:16 pm
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There's a big wall of speculative money sitting behind Actelion right now ....
12:17 pm
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.... so this RAW disclaimer is particularly important.
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RAW is market chatter - information that has not been formally tested through traditional journalistic channels (PRs etc). The story might be complete rubbish, but if we believe there is some substance to it we will say so. Either way, Reader Beware.
12:17 pm
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But since Streetinsider is wearing some of the risk for us, here's the general gist of the rumour.
12:17 pm
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We've been hearing that Actelion has had a firm approach reasonably recently, and that it brought in BOA Merrill Lynch to do the defence.
12:18 pm
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We also hear that there's a firm deadline on that offer, as in this week. After that, the predator has threatened to go hostile.
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This is all v v interesting
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The price we've heard is .... actually, I'll not be specific here. But there's a price around.
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But it's yet to show through vividly in the stock price
12:21 pm
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Actually just getting going now
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In terms of the potential buyers, J&J seems a credible one. Though J&J traditionally says it doesn't do hostile.
12:21 pm
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There's also the theory that Actelion might just be looking at partnerships, so is talking to lots of companies, but has BOAML at its back in case anyone gets the wrong idea.
12:22 pm
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And as StreetInsider says, Actelion has in the past played down the idea that it's for sale.
12:22 pm
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..... So anyway. There's lots more on my notepad about this one, but there's no point in gifting stuff to the competition.