Johnson & Johnson (NYSE:JNJ) is telling is it shareholders to turn down a mini-tender offer from Tutanota as it is well below the current share price.
On Sept. 27, Tutanota offered to purchase up to 500K shares at $145 per share. However, the healthcare giant said that on Sept. 26, its stock price closed well above that. On Friday, shares closed at $190.72.
“Johnson & Johnson urges investors to obtain current market quotations for their shares, to consult with their broker or financial advisor and to exercise caution with respect to Tutanota’s offer,” the company said in a news release.
