JOHNSON & JOHNSON’S KENVUE TO FLOAT ON STOCK MARKET
THE WHAT? Johnson & Johnson’s consumer health unit, Kenvue is one step closer to becoming an independent entity as it filed to be listed on the New York Stock Exchange, according to a report published by Reuters.
THE DETAILS Johnson & Johnson will continue to own a minimum of 80.1 percent of the voting power of Kenvue’s shares on completion of the listing.
THE WHY? The spin off is part of Johnson & Johnson’s wider plan to distance from, and draw a line under the multiple law suits it has fought over the presence of asbestos in its talc products.
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