(Reuters) – Johnson & Johnson 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.
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)
