October 23, 2018 / 8:05 AM / a month ago

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

TOKYO, Oct 23 (Reuters) - U.S. 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 ($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. ($1 = 112.3500 yen) (Reporting by Makiko Yamazaki and Chris Gallagher; Editing by Muralikumar Anantharaman)

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