J&J/Neutrogena
This article was originally published in The Rose Sheet
Executive Summary
Johnson & Johnson has acquired 25,355,205 shares of Neutrogena common stock, approximately 98.6% of the firm's outstanding shares, pursuant to its tender offer that expired Sept. 23, J&J will acquire the remaining shares for $35.25 each, the same price paid in the tender offer, and expects "prompt consummation" of the merger. J&J announced its intention to purchase Neutrogena Aug. 22 for $924.1 mil. ("The Rose Sheet" Aug. 29, p. 1)