Sanofi mulls counterbid for Actelion amid J&J talks

Sanofi is considering a counterbid for Actelion Ltd, potentially challenging a move by US healthcare giant Johnson & Johnson to acquire Europe's largest biotechnology firm, people familiar with the matter said.

The French drugmaker is working with advisers as it weighs its options, said the people, who asked not to be identified because the deliberations are private. Sanofi, which has informally made its interest known to Switzerland's Actelion, hasn't made a final decision on whether to proceed with a bid.

J&J aims to reach a deal before Christmas as the two sides negotiate the price and structure of a potential deal, according to two people familiar with the matter. The talks are progressing after the US drugmaker increased its offer, people familiar with the matter said on Friday, ratcheting up pressure on potential counterbidders to move quickly. J&J raised its bid above $250 a share, a person said last week, which would value Actelion at more than $27 billion.