J&J announces offer completion for Ci:z Holding Co. Ltd.

By Emily Bader
New Brunswick | Jan 11, 2019 at 11:57 am

New Brunswick-based Johnson & Johnson announced Friday it has completed its offer for all of the outstanding shares of Ci:z Holdings Co. Ltd. not already held by Johnson & Johnson or its affiliates.

There were approximately 20 million shares of Ci:z tendered in the offer, representing 41 percent of the outstanding share of the company.

Johnson & Johnson will acquire all tendered shares for 5,900 Yen, or $54.46, per share and will purchase additional shares through the acquisition of CIC Corp., the ownership vehicle of the company’s founder, Dr. Yoshinori Shirono. This will give J&J an aggregate ownership interest in Ci:z of 89 percent.

The deal is expected to close on Jan. 17.

Following J&J’s tender offer and the acquisition of CIC, J&J said it plans to acquire the remaining shares of Ci:z.

Emily Bader | ebader@roi-nj.com | emilybader