[1/2]The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 29, 2019. REUTERS/Brendan McDermid/File Photo
July 24 (Reuters) – Johnson & Johnson (JNJ.N) said on Monday it had launched an exchange offer for its investors to exchange J&J’s shares with those of its consumer health unit Kenvue (KVUE.N).
J&J, which currently owns an 89.6% stake in the consumer health unit, said it intends to split off at least 80.1% of Kenvue’s shares as part of the offering.
Reporting by Bhanvi Satija in Bengaluru; Editing by Shounak Dasgupta
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