TOKYO (Reuters) – U.S. healthcare conglomerate Johnson & Johnson (JNJ.N) said on Tuesday it is acquiring all outstanding shares of Japanese cosmetics firm Ci:z Holdings Co Ltd (4924.T) that it does not already own for 230 billion yen ($2.05 billion).
FILE PHOTO: A Johnson & Johnson building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake/File Photo
The U.S. company will pay 5,900 yen per Ci:z share, a 55 percent premium over Tuesday’s closing price, and expects the deal to strengthen its market presence in Japan, J&J said in a statement.
J&J is the second largest shareholder of the Japanese firm and owns a 19.9 percent stake through its affiliate.
Reporting by Makiko Yamazaki and Chris Gallagher; Editing by Muralikumar Anantharaman