THE WHAT? Johnson & Johnson has introduced the preliminary outcomes of its Kenvue share alternate supply. The US well being care agency intends to just 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 supply, Johnson & Johnson’s will retain roughly 9.5 p.c of the excellent shares of Kenvue frequent inventory.
THE WHY? The alternate supply was launched following the spin-off of JnJ’s former client well being unit and was oversubscribed so Johnson & Johnson is barely accepting a portion of the shares of its frequent inventory on a professional rata foundation in proportion to the variety of shares tendered.
