J&J makes $2.1B offer to buy out Japan cosmetics firm Ci:z

TOKYO - 23 October 2018: 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).

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.