A new year, re-heated M&A speculation. Takeover talk is again centred on US-based infant formula group Mead Johnson, often seen as a target since it was spun off by pharma group Bristol-Myers Squibb in 2009. In the past, the chatter has focused on whether Danone would buy the Enfamil maker. Now, Nestle is in the spotlight. However, as Dean Best reports, such a deal looks unlikely - and, at present, the prospect of other suitors coming in appears just as slim.