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Johnson & Johnson selling stake in Kenvue

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Johnson & Johnson is selling its remaining stake in Kenvue, the maker of Tylenol and Band-Aids.

Johnson & Johnson's roughly 9.5% stake in Kenvue is being sold to Goldman Sachs and JPMorgan in a debt-for-equity exchange valued at $3.75 billion.

The banks plan to sell the roughly 189.3 million shares.

Read more from Quartz.

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