Johnson and Johnson obtains financial clearances for acquisition

Johnson & Johnson (J&J) has revealed all possible foreign antitrust and regulatory clearances required for its acquisition of Mentor have been obtained.

The organisation explained any waiting periods for clearance have expired.

Initiated on December 1st last year, the company’s cash tender offer to purchase all of Mentor’s outstanding shares of common stock is set to expire on January 16th, unless otherwise extended.

Shareholders of the purchased company will receive $31 (20.93 pounds) in cash for each share, excluding any applicable withholding taxes.

Running through J&J’s wholly owned subsidiary, the acquisition has so far seen 4,094,627 shares of the company’s common stock validly tendered.

As a result of the deal, Mentor will operate through Ethicon.

In December last year, J&J said it had completed its offer for Omrix.

According to the company, 16,749,152 shares – or 97.8 per cent – of the acquired common stock were tendered in the transaction.