Johnson & Johnson initiates exchange offer to separate from Kenvue Inc.
TL;DR Summary
Johnson & Johnson has provided more details about its plan to split off shares of its consumer health unit, Kenvue, through an exchange offer to shareholders. The company will offer at least 80.1% of its Kenvue stake or up to 1.5 billion shares in exchange for Johnson & Johnson common stock. The exchange offer is voluntary and is expected to close on August 18, 2023.
- Johnson & Johnson launches Kenvue exchange offer (NYSE:JNJ) Seeking Alpha
- Johnson & Johnson to reduce its Kenvue stake by at least 80% through exchange offer CNBC
- J&J starts share exchange offer for consumer health spin-off Kenvue Yahoo Finance
- Johnson & Johnson Launches Exchange Offer for Separation of Kenvue Inc. Johnson & Johnson
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