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.