Reckitt Benckiser buys US infant and child nutrition specialist Mead Johnson Reckitt Benckiser
Eastern Eye Staff
British consumer health giant Reckitt Benckiser on Friday (10) bought US infant and child nutrition specialist Mead Johnson for $16.6 billion (£13.29 billion) in a takeover which targets rapid expansion in Asia. The friendly deal was pitched at $90 (£72) per share and will “significantly strengthen” its presence in developing markets like China, Reckitt said in a statement. The transaction will also take Reckitt, whose brands include Durex condoms and Nurofen painkillers, into the baby-food market for the first time. The deal, which values Illinois-based Mead Johnson at $17.9 billion (£14.34 billion) including debt, is expected to generate £200 million…
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