J&J makes $2.1b offer to buy out Japan cosmetics firm Ci:z

Published: October 23, 2018 15:01:53 | Updated: October 25, 2018 13:10:13

US healthcare conglomerate Johnson & Johnson said on Tuesday it is acquiring all outstanding shares of Japanese cosmetics firm Ci:z Holdings Co Ltd that it does not already own for 230 billion yen.

The US company will pay 5,900 yen per Ci:z share, a 55 per cent premium over Tuesday’s closing price, and expects the deal to strengthen its market presence in Japan, J&J said in a statement.

J&J is the second largest shareholder of the Japanese firm and owns a 19.9 per cent stake through its affiliate.

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