Johnson & Johnson has informed that it is commencing, through a new wholly owned subsidiary, Maple Merger, Sub, Inc., a cash tender offer to purchase all outstanding shares of common stock of Mentor Corporation.

Johnson & Johnson reported on December 1, 2008 its intent to acquire Mentor.

Upon the successful closing of the tender offer, shareholders of Mentor will get $31.00 in cash for each share of Mentor common stock tendered in the offer, without interest and less any required withholding taxes.

Following the purchase of shares in the tender offer, Mentor will operate as a stand-alone business unit reporting through ETHICON, Inc., a Johnson & Johnson company

The tender offer will expire at 12:00 midnight on January 12, 2009 unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.

The scrip of Johnson closed on Thursday at $58.25 on NYSE, while the shares of Mentor Corporation settled the day at $30.64 on the same exchange.