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New era: J&J completes break up
Posted 24 August 2023 PM
Johnson & Johnson has finalised its separation from its healthcare business, with shareholders flocking to exchange their J&J shares for holdings in the new company, Kenvue.
The pharma giant ran an offer for its shareholders to swap each of their shares in J&J for 8.0324 shares of Kenvue common stock, with the offer being heavily over-subscribed. Only 23.86 per cent of J&J shares tended for exchange were accepted in the offer.
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Posted 24 August 2023 PM
Johnson & Johnson has finalised its separation from its healthcare business, with shareholders flocking to exchange their J&J shares for holdings in the new company, Kenvue.
The pharma giant ran an offer for its shareholders to swap each of their shares in J&J for 8.0324 shares of Kenvue common stock, with the offer being heavily over-subscribed. Only 23.86 per cent of J&J shares tended for exchange were accepted in the offer.
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