Johnson & Johnson says final exchange ratio 8.0324 in split-off of Kenvue

Johnson & Johnson (JNJ) announced the final exchange ratio for its previously announced split-off exchange offer to Johnson & Johnson shareholders to exchange their shares of Johnson & Johnson for shares of common stock of Kenvue (KVUE) currently held by Johnson & Johnson. For each share of Johnson & Johnson common stock that is validly tendered and not validly withdrawn by shareholders and that is accepted by Johnson & Johnson pursuant to the exchange offer, Johnson & Johnson will deliver 8.0324 shares of Kenvue common stock to or at the direction of any such tendering shareholder. Based on the final exchange ratio, Johnson & Johnson currently expects to accept for exchange approximately 190,955,436 shares of Johnson & Johnson common stock if the exchange offer is fully subscribed. Because the exchange offer will be subject to proration if the exchange offer is oversubscribed, the number of shares of Johnson & Johnson common stock that Johnson & Johnson accepts in the exchange offer may be less than the number of shares validly tendered by Johnson & Johnson shareholders. The exchange offer is currently scheduled to expire at 12:00 midnight, New York City time, at the end of the day on August 18, unless terminated or extended.