Johnson & Johnson urges holders to reject 'mini-tender offer by Peer & Peri
Johnson & Johnson received notice of an unsolicited "mini-tender" offer by Peer & Peri LLC to purchase up to 30,000 shares of common stock of Johnson & Johnson, representing approximately 0.001% of the company's outstanding shares. Peer & Peri's offer price of $98.50 per share in cash is approximately 22.6% lower than the $127.27 closing price of Johnson & Johnson shares on December 28, 2018, the last closing price prior to commencement of the mini-tender offer. Johnson & Johnson said it does not endorse Peer & Peri's unsolicited below-market mini-tender offer and recommends that shareholders do not tender their shares because the offer is at a price "significantly below the current market price of Johnson & Johnson shares." Johnson & Johnson recommends that shareholders who have not responded to Peer & Peri's offer take no action. Johnson & Johnson also recommends that shareholders who have already tendered their shares withdraw those shares in accordance with Peer & Peri's offering documents prior to the expiration of the offer. The offer is currently scheduled to expire at 5 p.m. New York City time on January 31, 2019. Johnson & Johnson said it is not affiliated or associated in any way with Peer & Peri, its mini-tender offer or the offer documentation. Johnson & Johnson urges shareholders to obtain current market quotations for their shares, to consult with their broker or financial advisor, and to exercise caution with respect to Peer & Peri's mini-tender offer.