US healthcare conglomerate Johnson & Johnson said on Tuesday it is acquiring all outstanding shares of Japanese cosmetics firm Ci:z Holdings Co Ltd that it does not already own for 230 billion yen.
The US company will pay 5,900 yen per Ci:z share, a 55 per cent 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 per cent stake through its affiliate.