Reckitt Benckiser's surprise move for Mead Johnson
The Dettol-to-Durex owner has tabled a takeover bid for the US-based infant formula group.
UK consumer goods group Reckitt Benckiser has signed a deal to take control of US infant formula business Mead Johnson for US$17.9bn.
Mead Johnson has been the subject of takeover talk ever since it was spun-off from pharma group Bristol-Myers Squibb in 2009. Today's (10 February) news that the board of the US infant formula business has backed a potential sale came as little surprise - but what has raised eyebrows is the seemingly unlikely source of interest, UK condom-to-cleaning product provider Reckitt Benckiser. Katy Askew looks at the potential deal.
US infant nutrition company Mead Johnson has revealed it has received a takeover offer from UK-based consumer health business Reckitt Benckiser.
Mead Johnson, the US infant formula business, said today (26 January) its underlying sales - its top-line number excluding the impact of exchange rates - could decline in 2017.
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.
Nestle has refused to comment on a report in the US claiming the world's largest food maker is considering a takeover offer for infant formula producer Mead Johnson.
Infant nutrition group Mead Johnson has lowered its full-year sales and earnings outlook despite noting progress has been made on lifting its sales trajectory in China.
US infant formula producer Mead Johnson today (28 July) revised its net sales outlook and said it now expects full year net sales of 5% to 7% below the prior year on a reported basis and 0% to 2% below the prior year on a constant dollar basis.
Mead Johnson, the US infant formula producer, today (28 April) claimed to be seeing progress in its performance despite reporting lower first-quarter sales and earnings.
Mead Johnson insisted that its performance in China improved in the fourth quarter despite a year-on-year drop in revenue.
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