Navigation Links
Johnson & Johnson Announces Satisfaction of Regulatory Clearances Condition for its Proposed Acquisition of Mentor Corporation

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(Eastern time) today, a total of approximately 4,094,627 shares of Mentor common stock were validly tendered and not withdrawn (including approximately 76,973 shares subject to guaranteed delivery procedures), representing approximately 12.1% of Mentor's outstanding common stock.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 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, 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:
(Date:11/28/2015)... ... 28, 2015 , ... Safe storage for contraceptive devices may not always be ... New Jersey and the other from Bradley Beach, New Jersey, there is an easy ... of having to replace NuvaRings more often than necessary. As such, it affords peace ...
(Date:11/27/2015)... ... November 28, 2015 , ... There is only one major question facing all ... year? , This question has not been an easy question to answer. Especially when ... and the younger workforce don’t share the same discipline around working long hours. ...
(Date:11/27/2015)... ... November 27, 2015 , ... ... care in America. As people age, more care is needed, especially with Alzheimer’s, ... and medical professionals are being overworked. The forgotten part of this equation: 80 ...
(Date:11/27/2015)... ... , ... Lizzie’s Lice Pickers just announced a special promotion that will run ... purchase of lice treatment product. In addition, customers will receive a complimentary head Check ... lice is a sure way to ruin the holidays, so we encourage all of ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... motto of progress through sharing, the 2016 Building Better Radiology Marketing Programs ... conference will begin on Sunday, March 6, 2016, at Caesars Palace in Las ...
Breaking Medicine News(10 mins):
(Date:11/27/2015)... PHILADELPHIA , Nov. 27, 2015  Lannett ... that it has completed the acquisition of Kremers ... pharmaceuticals subsidiary of global biopharmaceuticals company UCB S.A. ... --> Lannett has acquired KU from UCB ... to certain adjustments, including a customary working capital ...
(Date:11/26/2015)... WILMINGTON, North Carolina , 26 november ... Laboratories, Inc. (AAIPharma/CML) kondigt de geplande investering ... de uitbreiding van de laboratoria en het ... . De uitbreiding zal resulteren in ... waarmee wordt voldaan aan de groeiende behoeften ...
(Date:11/26/2015)... -- 3D bioprinting market is expected to ... report by Grand View Research Inc. Rising prevalence of chronic ... transplantation is expected to boost the market growth, as 3D ... --> 3D bioprinting market is expected to ... report by Grand View Research Inc. Rising prevalence of chronic ...
Breaking Medicine Technology: