Johnson & Johnson makes $2.1 billion offer to buy out Japan cosmetics firm Ci:z

TOKYO (Reuters) – U.S. healthcare conglomerate Johnson & Johnson (JNJ.N) said on Tuesday it will buy all outstanding shares of Japanese skincare firm Ci:z Holdings Co Ltd (4924.T) that it does not already own for 230 billion yen ($2.05 billion) in cash.

TOKYO (Reuters) – U.S. healthcare conglomerate Johnson & Johnson (JNJ.N) said on Tuesday it will buy all outstanding shares of Japanese skincare firm Ci:z Holdings Co Ltd (4924.T) that it does not already own for 230 billion yen ($2.05 billion) in cash.

J&J will pay 5,900 yen per Ci:z share, a 55 percent premium over Tuesday’s closing price, and also acquire the shares owned by the Japanese firm’s founder Yoshinori Shirono, J&J said in a statement.

CIC Corp, the founder’s ownership vehicle, is the biggest shareholder of the dermo-cosmetics specialist with a 27.96 percent interest, showed Refinitiv data.

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J&J is the second-largest shareholder, owning 19.9 percent through an affiliate since 2016, allowing it to distribute Ci:z’s brands outside of Japan. J&J expects the full acquisition will help it leverage the large consumer database of the collagen gel and medical skin products maker.

“This transaction will maximise value creation … by bringing in an agile innovation model and rapidly accelerating sales through our global commercialization expertise,” Jorge Mesquita, worldwide chairman at Johnson & Johnson’s consumer division, said in the statement.

J&J, which has been selling businesses such as diabetes care devices to focus on better-performing units and product development, plans to launch the tender offer on Oct. 29.

reuters.com

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