Investing.com - (NYSE:Johnson & Johnson) is to buy Swiss pharma (SIX:Actelion) for $30 bn in cash.
Actelion shareholders will receive $280 a share, equivalent to 280.08 Swiss francs.
Actelion shares closed Wednesday up 1.97% at 227.40 Swiss francs
Johnson & Johnson will fund the deal with cash held outside of the U.S.
In a statement, Actelion said as part of the deal it will spin off its R&D unit which will be listed in Switzerland.
Johnson & Johnson will hold a substantial minority interest in the new R&D company.
Johnson & Johnson and Actelion will hold a conference call with investors at 08:00 ET to discuss the deal.