07:28 AM EDT, 05/13/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) is expected to exchange 182,329,550 shares of Kenvue's ( KVUE ) common stock for indebtedness of Johnson & Johnson ( JNJ ) to be held by Goldman Sachs and J.P. Morgan, Kenvue ( KVUE ) said Monday.

Following the completion of the proposed offering, Johnson & Johnson ( JNJ ) will no longer own any shares of Kenvue ( KVUE ) common stock, according to Kenvue ( KVUE ).

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