J&J Has Kenvue IPO Roadshow In One Lane, Potentially Long Road For Talc Litigation In Other
Roadshow stated for IPO planned for before end of 2023 of 151.2m shares of Kenvue common stock currently expected at between $20 and $23 per share. Analysts positive on IPO but caution launch wouldn’t come problem-free.
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Kenvue gets Canada as a market for Zarbees honey-based children’s products while J&J expects nearly 200m of its shares to be exchanged for Kenvue shares.
Announced first results as standalone firm, Kenveu doesn’t downplay significance of J&J announcing its plan for selling shares from nearly 90% ownership it retained after spinning off Kenvue out in May.
‘Junk Litigation Opinions’: J&J’s Talc Liabilities Subsidiary Sues Plaintiff Experts For Disparaging Talcum Powders
What ails J&J in litigation concerning the alleged role of its Johnson’s Baby Powder and other talcum products in plaintiffs’ mesothelioma – ie, “tactics to pollute the scientific literature” – is a growing systemic problem, according to the firm’s wholly owned indirect subsidiary LTL Management.