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10/23/2018, 10:48 AM (Source: TeleTrader)
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J&J to buy rest of Japanese firm Ci:z for $2B

American manufacturer of healthcare and cosmetics goods Johnson & Johnson said on Tuesday it is paying $2.05 billion for all the remaining outstanding shares of the Japanese cosmetics company Ci:z Holdings Co Ltd, in which it already has a 19.9% stake through its affiliate Cilag GmbH International.

The purchase values every Ci:z share at 5,900 yen ($52.56), which is 55% more than the firm's closing price in Tokyo on Tuesday. According to the statement, "the company's skincare portfolio is expected to strengthen Johnson & Johnson's market presence in Japan with key customers."

Breaking the News / NI