Johnson & Johnson makes $2.1b offer to fully buy Japanese cosmetics firm Ci:z

By Makiko Yamazaki, Chris Gallagher

October 23, 2018

U.S. healthcare conglomerate Johnson & Johnson said on Tuesday it is acquiring all outstanding shares of Japanese skincare firm Ci:z Holdings Co Ltd that it does not already own for 230 billion yen ($2.05 billion) in cash.

J&J is betting the deal, which will give it ownership of the Japanese firm’s popular brands such as Dr.Ci:Labo, Labo Labo and Genomer line of skincare products, will help it strengthen its international innovation pipeline.

It will pay 5,900 yen per Ci:z share, a 55 percent premium over Tuesday’s closing price, and also acquire the shares owned by the Japanese firm’s founder Yoshinori Shirono, J&J said in a statement.

CIC Corp, the ownership vehicle of the founder, is the top shareholder of Ci:z with a 27.96 percent interest, according to Refinitiv data.

J&J is the second largest shareholder of the Japanese firm and owns a 19.9 percent stake through its affiliate.

J&J, which has been selling off certain businesses such as diabetes care devices to focus on better performing units and development of new products, plans to launch the tender offer on Oct. 29.

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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