- Johnson & Johnson Will Commence Subsequent Offering Period
The depositary for the tender offer has advised Johnson & Johnson that, as of the expiration of the initial tender offer, a total of approximately 31,456,557 shares of Mentor common stock were validly tendered and not withdrawn (including approximately 4,632,228 shares subject to guaranteed delivery procedures), representing approximately 92.9% of the outstanding shares of Mentor common stock. All shares that were validly tendered and not properly withdrawn during the initial offering period have been accepted for payment.
Johnson & Johnson also announced that it will commence through Maple Merger Sub, Inc., a subsequent offering period to acquire all remaining shares of Mentor common stock, which will begin on
If, following the expiration of the subsequent offering period, Maple Merger Sub, Inc. owns at least 90% of the shares of Mentor common stock outstanding, the merger will be completed through what is known as a "short-form merger" without a vote or meeting of Mentor's remaining shareholders.
Upon closing, the transaction is expected to have a dilutive impact to Johnson & Johnson's 2009 earnings per share of approximately
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,
SOURCE Johnson & Johnson