Mead Johnson Nutrition Company has reached an agreement to be acquired by Reckitt Benckiser Group plc (RB), the world’s leading consumer health and hygiene company. Under the agreement, shareholders will receive $90 in cash for each share of common stock, valuing the total equity at $16.6 billion. As a result of this transaction, Mead Johnson will become a new division of RB with its globally-recognized Enfamil and Nutramigen brands joining RB’s portfolio of leading consumer health brands.
The move by British consumer-goods company RB will allow it to push further into healthy products.
Last week, RB confirmed that it is in US$16.7 billion discussions to takeover Mead Johnson Nutrition Company. It had previously been reported that Nestlé was also gearing up to bid for the US infant formula and vitamin maker.