Johnson & Johnson rumored to be planning takeover bid for Alza Corp
Johnson & Johnson is in advanced talks to acquire Alza Corp, accordingto reports in the Wall Street Journal and the Financial Times, and both newspapers cited "people familiar with the issue" as saying that negotiations are at a delicate stage.
It is thought that J&J is proposing a stock-swap deal that would value Alza at $42-$48 a share, making the total package worth $8-$12 million. The latter company, which has a 52-week high share price of just over $47, would appear to be open to offers given that it agreed a $7.3 billion merger with Abbott Laboratories last year, only for the deal to collapse when the firms could not satisfy the regulatory requirements demanded by the US Federal Trade Commission (Marketletter January 3 & 10, 2000).
"Unequalled" drug delivery technologies
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