J&J completes initialtender for Mentor
US health care major Johnson & Johnson says that the initial tender offer, through its wholly-owned subsidiary, Maple Merger Sub, for all outstanding shares of common stock of Mentor Corp expired at 5:00 pm (Eastern time) on January 16, and was not extended. The firm announced plans to acquire Mentor at $31 a share, or around $1.07 billion, at the end of last year (Marketletter December 8, 2008).
The depositary for the tender offer has advised J&J that, as of the expiration of the initial tender offer, a total of around 31,456,557 shares of Mentor were validly tendered and not withdrawn (including about 4,632,228 subject to guaranteed delivery procedures), representing some 92.9% of the outstanding shares.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
| Headless Content Management with Blaze