JnJ to sell remaining 9.5 percent stake in Kenvue
Written By : Ruchika Sharma
Medically Reviewed By : Dr. Kamal Kant Kohli
Published On 2024-05-14 06:00 GMT | Update On 2024-06-20 19:14 GMT
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Kenvue, the producer of Tylenol said on Monday that Johnson & Johnson will be selling off its remaining 9.5% stake in the company. This decision follows roughly one year after the healthcare conglomerate separated and listed its consumer health business.
Based on Kenvue stock's last close, the offering of 182.3 million shares would be worth about $3.75 billion, according to Reuters calculation.
Kenvue's shares were down 1.2% in premarket trading. J&J shares were largely unchanged.
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