J&J did not raise its offer and said its transaction offered "full and fair value".
The transaction offers Stratagene shareholders, who will have to approve the deal, a 29percentt premium over the closing price Thursday.
For a start, the transaction offered up a headline 74 percent premium for McMoRan, a struggling oil company run and part-owned by Mr. Moffett.
The transaction offered yet another example of the kind of promiscuous lending that forced the government to rescue Citi the next year.
"The transaction offers an attractive and immediate premium for stockholders and shifts the risks facing the business to the buyer group".
The potential transaction "offered a significant opportunity to the Co-operative," the firm's chief executive, Peter Marks, said in a statement.
"This transaction offers the opportunity to bring together two leading companies, positioning the combined group to capture the future growth opportunity in Asia," Prudential said.
"The proffered recipe is clearly missing vital ingredients," he said, adding, "The voluminous evidence reviewed by staff indicates that the proposed transaction offers few, if any, consumer benefits".
Usually, such issues are syndicated among the small (about 400-strong) group of global investment houses, which place them with their clients or hold them in-house.From the borrower's point of view, the online transaction offers two big advantages: transparency, in that the borrower can see who the end-investors are, and what commitments they are making; and access to new investors.
Equally important, this transaction offers immediate value to our shareholders.
