Welcome to the No More Tears issue of M&A Daily
Johnson & Johnson
Actelion (OTCPK:ALIOY) rejected the initial offer from J&J (NYSE:JNJ) but will be more receptive to the new one. The bid, for over 20% above the current market price, is likely to be the best bet for the target's holders. The bidder is committed. However, the target's management has historically been entrenched and unwilling to sell. It would take a blowout offer to get them to change their minds. Such a deal could be announced later this month.
Ladder
Trump backer Ladder Capital (NYSE:LADR) is working with Citi (NYSE:C) on a sale process.
