With the approval of European regulators in hand, Johnson & Johnson (JNJ+0.5%) says it has all the approvals it needs to complete its $280/share offer for Actelion on June 16.

Actelion will spin out its drug discovery operations and early-stage clinical development assets into a separate company called Idorsia Ltd., whose shares will be distributed to Actelion stockholders as a dividend-in-kind.

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