All articles tagged with #share exchange offer
Johnson & Johnson expects to retain a 9.5% stake in its newly separated consumer health unit, Kenvue, after completing a share exchange offer. The company launched the exchange offer last month, allowing its stockholders to opt for shares of the former consumer health unit related to the spinoff. Shares of Kenvue rose 1.4% in premarket trading.
Johnson & Johnson has initiated a share exchange offer for its consumer health spin-off, Kenvue. The company plans to split off at least 80.1% of Kenvue's shares as part of the offering, allowing J&J shareholders to exchange their shares for Kenvue shares at a 7% discount. This move brings J&J closer to its goal of focusing on its larger medical devices and pharmaceuticals businesses. J&J shares rose 1% in premarket trading, while Kenvue shares fell 1%.
Johnson & Johnson has initiated a share exchange offer for its consumer health spin-off, Kenvue. The company plans to split off at least 80.1% of Kenvue's shares as part of the offering, allowing J&J shareholders to exchange their shares for Kenvue shares at a 7% discount. This move is in line with J&J's strategy to focus on its larger medical devices and pharmaceuticals businesses. Kenvue, which debuted on the New York Stock Exchange in May, has a market capitalization of approximately $46 billion.