Navigation Links
Johnson & Johnson Announces Satisfaction of Regulatory Clearances Condition for its Proposed Acquisition of Mentor Corporation
Date:1/15/2009

NEW BRUNSWICK, N.J., Jan. 15 /PRNewswire-FirstCall/ -- Johnson & Johnson (NYSE: JNJ) today announced that all applicable foreign antitrust and similar regulatory clearances required for its cash tender offer to purchase all outstanding shares of common stock of Mentor Corporation (NYSE: MNT) were obtained, or the relevant waiting periods for clearance have expired.

Johnson & Johnson, through its wholly owned subsidiary, Maple Merger Sub, Inc., initiated the tender offer on Dec. 1, 2008. The tender offer will expire at 5:00 p.m. (Eastern time) on Jan. 16, 2009, unless extended. The condition to the tender offer relating to clearance under the Hart-Scott-Rodino Antitrust Improvements Act has also been satisfied.

The depositary for the tender offer has advised Johnson & Johnson that, as of 12:00 p.m. (Eastern time) today, a total of approximately 4,094,627 shares of Mentor common stock were validly tendered and not withdrawn (including approximately 76,973 shares subject to guaranteed delivery procedures), representing approximately 12.1% of Mentor's outstanding common stock.

Upon the successful closing of the tender offer, shareholders of Mentor will receive $31.00 in cash for each share of Mentor common stock tendered in the tender offer, without interest and less any required withholding taxes. Following the completion of the acquisition, it is expected that Mentor will operate as a stand-alone business unit reporting through ETHICON, Inc., a Johnson & Johnson company.

Upon closing, the transaction is expected to have a dilutive impact to Johnson & Johnson's 2009 earnings per share of approximately $0.03 - $0.05. This amount will be reflected as part of Johnson & Johnson's earnings guidance, which will be provided Jan. 20, 2009.

About Johnson & Johnson

Caring for the world, one person at a time ... inspires and unites the people of Johnson & Johnson. We embrace research and science -- bringing innovative ideas, products and services to advance the health and well-being of people. Our 119,400 employees at more than 250 Johnson & Johnson companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

Additional Information

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Mentor Corporation. Johnson & Johnson and Maple Merger Sub, Inc. have filed a tender offer statement with the Securities and Exchange Commission ("SEC"), and have mailed an offer to purchase, forms of letter of transmittal and related documents to Mentor shareholders. Mentor has filed with the SEC, and has mailed to Mentor shareholders, a solicitation/recommendation statement on Schedule 14D-9. These documents contain important information about the tender offer and shareholders of Mentor are urged to read them carefully.

These documents are available at no charge at the SEC's website at www.sec.gov. The tender offer statement and the related materials may be obtained for free by directing a request by mail to Georgeson Inc., 199 Water Street, New York, New York 10038 or by calling toll-free (800) 213-0475 or (800) 445-1790. In addition, a copy of the offer to purchase, letter of transmittal and certain other related tender offer documents may be obtained free of charge by directing a request to Johnson & Johnson at www.jnj.com, or Johnson & Johnson, One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933, Attn: Corporate Secretary's Office.


'/>"/>
SOURCE Johnson & Johnson
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Johnson & Johnson to Participate in Bear Stearns 20th Annual Healthcare Conference
2. Draxis Health selected by Johnson and Johnson Consumer Companies, Inc. for major contract manufacturing relationship
3. Johnson & Johnson Campaign for Nursings Future Joins With AACN to Offer New Minority Nurse Faculty Scholars Program
4. Trust for Americas Health Receives $7.6 Million Grant from the Robert Wood Johnson Foundation to Advance the Quality and Impact of the Public Health System
5. Deane F. Johnson Center for Neurotherapeutics to Launch First Mobile Medical Unit on October 4th
6. Johnson & Johnson Tops Annual Pharmaceutical Company Rankings in a New Report From Industry-Leading Publication Scrip
7. Independence Technology, A Johnson & Johnson Company, Renews Its Contract With Creative Technology Services
8. Johnson & Johnson Launches Global Diabetes Institute to Provide State-of-The- Art Education, Training to Health Professionals
9. Robert Wood Johnson Foundation Announces $15.6 Million Grant to Apply Power of the Archimedes Model to Critical Health Care Decisions
10. UAN Mourns Passing of President Cheryl L. Johnson, RN
11. Johnson & Johnson Pharmaceutical Research & Development Submits New Drug Application for Paliperidone Palmitate
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... FL (PRWEB) , ... February 09, 2016 , ... ... innovative specialty pharmacies, announces today the continuation of the ‘Pay It Forward’ program ... each prescription referral received at our specialty pharmacy. , “Since our Pay ...
(Date:2/9/2016)... ... 2016 , ... On January 12, 2016 Paul McElwee, a CroppMetcalfe HVAC technician, ... furnace not producing any heat. Shortly after entering the home, Paul was able to ... dangerous levels of carbon monoxide into the home, at 2,000 parts per million in ...
(Date:2/9/2016)... ... February 09, 2016 , ... The Bon-Ton ... and Younkers department stores, announced it has raised $176,000 to benefit the Breast ... Comprehensive Cancer Center at the University of Iowa, The Lynn Sage Cancer Research ...
(Date:2/9/2016)... ... February 09, 2016 , ... ZipHearing.com ... access to affordable hearing aids , increase industry transparency, and promote awareness ... United States. , “For the average consumer, the hearing aid industry is esoteric ...
(Date:2/9/2016)... , ... February 09, 2016 , ... ... products, announced today the introduction of the newly designed, innovative shoulder wrap. ... better cold therapy coverage for the injured arm and shoulder to promote faster ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... Aesthetic Devices - Medical Devices Pipeline Assessment, ... "Aesthetic Devices - Medical Devices Pipeline Assessment, 2015" provides ... This report is prepared using data ... GlobalData,s team of industry experts. *Note: Certain sections ... on the availability and relevance of data in relation ...
(Date:2/8/2016)... FAIRFIELD, N.J. , Feb. 8, 2016  Otsuka ... today announced that they have entered into a licensing ... OPA-15406 in the U.S. and Puerto Rico ... is a topical, non-steroidal phosphodiesterase IV (PDE-4) inhibitor, a ... --> --> In a Phase II ...
(Date:2/8/2016)... , Feb. 8, 2016  Echo ... medical device company focused on non-invasive continuous ... announced today announced that it will host ... February 17, 2015 at 9:00 a.m. Eastern ... discuss its corporate strategy, advancements in its ...
Breaking Medicine Technology: