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THE WHAT? Johnson & Johnson has introduced the preliminary outcomes of its Kenvue share alternate provide. The US well being care agency intends to simply accept 190, 955,436 of the tendered shares in alternate for the 1,533,830,450 shares of Kenvue frequent inventory it owns.
THE DETAILS Following the completion of the alternate provide, Johnson & Johnson’s will retain roughly 9.5 p.c of the excellent shares of Kenvue frequent inventory.
THE WHY? The alternate provide was launched following the spin-off of JnJ’s former shopper well being unit and was oversubscribed so Johnson & Johnson is simply accepting a portion of the shares of its frequent inventory on a professional rata foundation in proportion to the variety of shares tendered.
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