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J&J to make $2.05B tender for remaining Ci:z Holdings shares

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Johnson & Johnson said in a prepared statement the skin care portfolio is expected to strengthen its market presence in Japan with key customers.
Johnson & Johnson said in a prepared statement the skin care portfolio is expected to strengthen its market presence in Japan with key customers. - ()

Johnson & Johnson has put forth an all-cash offer of 230 billion yen, or $2.05 billion, to acquire all of the outstanding shares of Ci:z Holdings Co. Ltd. not already held by J&J and its affiliates.

Ci:z Holdings Co., is a Japanese company focused on the marketing, development and distribution of a dermocosmetic, cosmetic and skincare products.

The acquisition will include the company's range of brands comprising Dr.Ci:Labo, Labo Labo and Genomer lines of skin care products.

Johnson & Johnson said in a prepared statement the skin care portfolio is expected to strengthen its market presence in Japan with key customers, and more broadly bolster its offering in science-based, efficacious dermocosmetic brands.

"Health and beauty consumers are actively seeking science-based innovation to improve their skin. This transaction will maximize value creation for Johnson & Johnson's Consumer business by bringing in an agile innovation model and rapidly accelerating sales through our global commercialization expertise," Jorge Mesquita, worldwide chairman, Johnson & Johnson Consumer, said in the statement.

Johnson & Johnson said that it expects to launch the tender offer on Oct. 29. The offer is expected to close in the first quarter of 2019.

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Anthony Vecchione

Anthony Vecchione covers health care for NJBIZ. You can contact him at: Avecchione@njbiz.com.

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