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…
You do not have access to this content. You need to subscribe.
