Johnson & Johnson extends tender offer for Mentor

By Lisa Kerner

Charlotte, N.C., Jan. 6 - Johnson & Johnson subsidiary Maple Merger Sub, Inc. extended its tender offer for all outstanding shares of common stock of Mentor Corp. to 5 p.m. ET on Jan. 16.

The offer had been set to end at 5 p.m. ET on Jan. 12.

Johnson & Johnson said it extended the offer in anticipation of receiving regulatory clearances by Jan. 15.

On Dec. 1, Johnson & Johnson announced it agreed to acquire Mentor for $31 per share in a transaction valued at $1.07 billion.

As of 12 p.m. ET on Tuesday, 609,983 shares, representing 1.8% of Mentor's common stock, were validly tendered and not withdrawn in the offer, according to a Johnson & Johnson news release.

Once the merger is complete, Mentor will operate as a standalone business unit reporting through Johnson & Johnson's Ethicon, Inc.

Johnson & Johnson is a New Brunswick, N.J.-based pharmaceutical company.

Santa Barbara, Calif.-based Mentor develops products for the aesthetics and general surgery markets.

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