Johnson & Johnson Is Officially Getting Out of Kenvue (KVUE) Stock

Kenvue (NYSE:KVUE) stock is in the news Monday after the company announced that Johnson & Johnson (NYSE:JNJ) is selling its stake in the business.Kenvue has announced a secondary offering that will have Johnson & Johnson selling its entire stake of 182,329,550 shares of KVUE stock. It is exchanging these shares for the indebtedness of JNJ held by Goldman Sachs & Co. LLC and J.P. Morgan.After this debt-for-equity exchange, the selling shareholders will sell the shares of KVUE stock to the underwriters of the ...