Mead Johnson Nutrition confirms discussions with Reckitt Benckiser (RBGLY) with respect to its proposal to acquire the outstanding shares of MJN for $90 per share in cash :
- While it is the longstanding policy of Mead Johnson Nutrition (MJN) not to comment on market speculation or rumors, in response to media reports and a subsequent statement released by Reckitt Benckiser plc (RBGLY), the company confirms that it is in discussions with RB with respect to its proposal to acquire the outstanding shares of MJN for $90 per share in cash.
- Mead Johnson notes that no agreement has been completed, and there are no assurances that any transaction will result from these discussions. The company does not intend to make any additional comments regarding this matter unless and until a formal agreement has been reached or discussions have been terminated.
- The British consumer goods maker, best known for its Lysol cleaners, Durex condoms, Nurofen tablets and Scholl footcare products, hopes to expand into the baby formula market and boost its business outside of Europe.
- Mead Johnson, the world's No. 2 infant formula maker with its Enfamil brand, was spun off from drugmaker Bristol-Myers Squibb (BMY) in 2009.
- Mead Johnson was long rumored to be a takeover target for Danone or Nestle.
** charts before announcement **
a) Nestle rumors on 1/18/17
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