J&J's consumer health unit Kenvue aims to raise $3.5 billion or more in the initial public offering, sources told the Wall Street Journal.
The newspaper noted that "the share sale would be by far the biggest of what so far has been a quiet year forKenvue plans to meet with prospective investors as early as Monday, the sources told The Journal.
When asked about The Journal's report, J&J spokesperson Tesia Williams told CNBC, "Unfortunately, I do not have any information to provide."The consumer staples giant has also said it will retain majority ownership of Kenvue, with plans to trim the rest of its stake later in the year.its plan to spin off its consumer health business in late 2021.
nearly 40,000 talc lawsuits through mid-June. That decision was part of J&J's second attempt to settle talc claims in bankruptcy proceedings.proposed settlement with plaintiffs in the talc cases.
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