Johnson & Johnson announces completion of offer for Ci:z Holdings
Johnson & Johnson announced that the conditions to its public tender offer for all of the outstanding shares of Ci:z Holdings not already held by Johnson & Johnson or its affiliates that was previously announced on October 23, 2018, have been satisfied and the offering period for the tender offer has expired. There were 20,004,934 shares of the company tendered in the tender offer, representing 41% of the outstanding shares of the company. Johnson & Johnson will acquire all tendered shares for 5,900 per share and will purchase additional shares of the company through the acquisition of CIC Corporation, the ownership vehicle of the company's founder, Dr. Yoshinori Shirono. As of the expiration of the offering period, the shares tendered in the tender offer, together with shares already held by Johnson & Johnson or its affiliates and the shares to be acquired through the acquisition of CIC, will give Johnson & Johnson an aggregate ownership interest in the company of 89%. The settlement of the tender offer and the acquisition of CIC will be completed by January 17, 2019. Following settlement of the tender offer and the acquisition of CIC, Johnson & Johnson plans to acquire the remaining shares of the company that were not tendered in the tender offer through a share consolidation under Japanese law during the first half of 2019 and take appropriate actions to delist the company from the Tokyo Stock Exchange.