J&J's takeover of Mentor clears antitrust conditions

US health care major Johnson & Johnson says that all applicable foreign antitrust and similar regulatory clearances required for its cash tender  offer to purchase USA-based Mentor Corp have been obtained (Marketletter  December 8, 2008).

Late last year, J&J agreed to acquire cosmetic-product and  breast-implant maker Mentor for $1.07 billion. Mentor is expected to  operate as a stand-alone business unit reporting through J&J unit  Ethicon, a leading provider of suture, mesh and other products for a  wide range of surgical procedures.

As part of the depositary for the tender offer, which has also satisfied  Hart-Scott Rodino conditions, at midday on January 15, a total of  approximately 4,094,627 shares of Mentor common stock were validly  tendered and not withdrawn (including around 76,973 shares subject to  guaranteed delivery procedures), representing 12.1% of Mentor's  outstanding common stock.