UPDATE 1-Robeco sells entire stake in J&J target Crucell

* Asset manager Robeco sells entire 1.5 pct stake

* Robeco says sees better potential returns elsewhere

* Crucell shares down 0.04 percent

(Adds Robeco comment, background)

AMSTERDAM, Oct 15 (BestGrowthStock) – A shareholder in Dutch biotech
Crucell (CRCL.AS: ), subject to an agreed offer by U.S.-based
Johnson & Johnson (JNJ.N: ), has sold all its shares in the firm,
underlining market doubts a higher offer will emerge.

“Our fund manager looks at where he can expect upward
potential. He has compared a potential higher bid versus the
upside potential at other Dutch stocks and decided to switch,”
Robeco spokesman Ronald Florisson said.

Robeco’s holding, about 1.5 percent of Crucell’s share
capital, has been sold on the open market over several days in
the past week, Florisson said.

J&J, which owns 17.9 percent of Crucell, is willing to pay
1.75 billion euros ($2.47 billion) for shares it does not own.

Crucell shares have traded below the J&J offer of 24.75
euros per share despite opposition from second-biggest
shareholder Van Herk. It says Crucell’s standalone value should
be 27.50 euros per share.

Van Herk held 10.02 percent of Crucell at Sept. 22.

At 0823 GMT, Crucell shares were down 0.04 percent at 24.54
euros, underperforming the Amsterdam midcap (.AMX: ) index which
was up 0.5 percent.

Crucell, which recommends the J&J offer, said on Thursday it
would hold an extraordinary shareholders’ meeting on Dec. 10 to
discuss the bid.

($1=.7095 Euro)

(Reporting by Gilbert Kreijger; editing by David Hulmes)

UPDATE 1-Robeco sells entire stake in J&J target Crucell