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Johnson & Johnson JNJ demerger

Analysing companies' finances and value from their financial statements using ratios and formulae
simoan
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Re: Johnson & Johnson JNJ demerger

#606539

Postby simoan » August 2nd, 2023, 7:50 pm

TheMotorcycleBoy wrote:
simoan wrote:Strange set of options. I’d do the same as you suggest in the circumstances. Not heard anything from my broker yet. Wouldn’t surprise me if I heard nothing!

Actually it's pretty damn stupid IYAM, you aren't even allowed to enter zero as a quantity.

So I guess my only recourse is just to leave the Corp. action un-actioned.

Matt

Not a problem for me as I’ve heard nothing from my broker (IG). So no hassle at all taking the option I want! :)

TheMotorcycleBoy
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Re: Johnson & Johnson JNJ demerger

#606621

Postby TheMotorcycleBoy » August 3rd, 2023, 7:02 am

I would have thought that they have a legal requirement to let you know, TBH.

simoan
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Re: Johnson & Johnson JNJ demerger

#606630

Postby simoan » August 3rd, 2023, 7:54 am

TheMotorcycleBoy wrote:I would have thought that they have a legal requirement to let you know, TBH.

Maybe they do, but they normally trump any legal necessity with incompetence where corporate actions are concerned. If I wanted to exchange I’d contact them to find out what’s going on, but I don’t, so I can’t be bothered.

TheMotorcycleBoy
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Re: Johnson & Johnson JNJ demerger

#606726

Postby TheMotorcycleBoy » August 3rd, 2023, 1:12 pm

simoan wrote:
TheMotorcycleBoy wrote:I would have thought that they have a legal requirement to let you know, TBH.

Maybe they do, but they normally trump any legal necessity with incompetence where corporate actions are concerned. If I wanted to exchange I’d contact them to find out what’s going on, but I don’t, so I can’t be bothered.

I see. I looks as if I should just ignore the corp action notification.

Of course I could phone my broker or web chat my broker. If I want to waste about 30 minutes of a day.

simoan
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Re: Johnson & Johnson JNJ demerger

#610172

Postby simoan » August 21st, 2023, 11:42 am

Looks like the exchange offer was heavily oversubscribed, so a big thumbs up for Kenvue. Anyone exchanging more than 100 shares will be scaled back:

https://www.jnj.com/johnson-johnson-ann ... ange-offer

All the best, Si

simoan
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Re: Johnson & Johnson JNJ demerger

#673581

Postby simoan » July 9th, 2024, 12:07 pm

So, it seems J&J have dumped their final 182 million shares in a Kenvue equity for debt swap with Goldman Sachs and JP Morgan. Whilst there may still be a potential overhang, it's interesting to note that Goldmans recently put a $21 price target on Kenvue the week after the swap announcement. I took very tentative first steps in building a position in Kenvue at $18 yesterday. It just looks too cheap to me now the price has fallen back. Damn glad I didn't take part in the original exchange though! Ugly price chart since the demerger.


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