Navigation Links
Johnson & Johnson Completes Tender Offer for Mentor Corporation

NEW BRUNSWICK, N.J., Jan. 23 /PRNewswire-FirstCall/ -- Johnson & Johnson (NYSE: JNJ) today announced the expiration of the subsequent offering period of the cash tender offer through its wholly owned subsidiary, Maple Merger Sub, Inc., for all outstanding shares of common stock of Mentor Corporation (NYSE: MNT). The subsequent offering period expired, as scheduled, at 12:00 midnight (Eastern Time) on Jan. 22, 2009, and was not extended.

The depositary for the tender offer has advised Johnson & Johnson that, as of the expiration of the subsequent offering period, shareholders of Mentor had tendered approximately 31,806,675 shares of Mentor common stock (including approximately 565,142 shares subject to guaranteed delivery procedures), representing approximately 93.9% of Mentor's outstanding shares of common stock. According to the terms of the tender offer, all shares that were validly tendered have been accepted for payment.

Johnson & Johnson intends to complete the acquisition of Mentor through what is known as a "short-form merger," that is, without a vote or meeting of Mentor's remaining shareholders. In the merger, each of the remaining shares of Mentor common stock (other than shares owned by shareholders of Mentor who properly exercise their dissenters' rights under Minnesota law) will be converted into the right to receive $31.00 per share, less any required withholding taxes, in cash and without interest, which is the same amount per share that was paid in the tender offer. The merger is expected to occur as soon as practicable.

Following the merger, Mentor is expected to operate as a stand-alone business unit reporting through ETHICON, Inc., a Johnson & Johnson company, and Mentor's common stock will no longer be listed on the NYSE.

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 119,000 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.

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:6/27/2016)... Lafayette, California (PRWEB) , ... ... ... a pioneer in the patient payment industry today announced its strategic partnership ... and health system workflows. , The two companies’ proven, proprietary technology combine ...
(Date:6/26/2016)... , ... June 26, 2016 , ... Pixel Film Studios ... X. , "Film editors can give their videos a whole new perspective by using ... - CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different ...
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica Scruggs ... for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs surgery, ... Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, MD, ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. ... from injury. Recently, he has implemented orthobiologic procedures as a method for treating ... one of the first doctors to perform the treatment. Orthobiologics are substances that ...
(Date:6/24/2016)... ... 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance Day. ... the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, has ... , Sickle Cell Disease (SCD) is a disorder of the red blood cells, which ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... June 23, 2016 Roche (SIX: RO, ROG; ... for its Elecsys BRAHMS PCT (procalcitonin) assay as a ... septic shock. With this clearance, Roche is the first ... integrated solution for sepsis risk assessment and management. ... infection and PCT levels in blood can aid clinicians ...
(Date:6/23/2016)... Pa. , June 23, 2016 Bracket ... will launch its next generation clinical outcomes platform, Bracket eCOA ... Meeting held on June 26 – 30, 2016 in ... the first electronic Clinical Outcome Assessment product of its kind ... Booth #715. Bracket eCOA 6.0 is a flexible ...
(Date:6/23/2016)... -- Revolutionary technology includes multi-speaker listening to ... leaders in advanced audiology and hearing aid technology, has ... the world,s first internet connected hearing aid that opens ...      (Photo: ) , ... firsts,: , TwinLink™ - the first dual ...
Breaking Medicine Technology: