Can someone explain the potential outcome of this? If they go with the second option, I will have to choose between JNJ or Kenvue? I am assuming this will have less of an impact on the price but I kind of wanted to own both stocks after the split.
According to the DOW newswire –
Then, J&J dropped a bombshell. It still holds around 90% of Kenvue shares, and it had said previously that it plans to dispose of the rest in one of two ways: either through a spinoff, where J&J shareholders receive distributions of Kenvue stock, or a split-off, whereby J&J shareholders could choose to exchange their shares for Kenvue ones.
On Thursday, J&J Chief Financial Officer Joseph Wolk said the company would opt for the latter split-off option, and that “the launch of the tender could occur as early as the coming days.”
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