Reckitt Benckiser to buy Mead Johnson

Published 10/02/2017 in Deals, Economy & Finance

Reckitt Benckiser to buy Mead Johnson
Products produced by Reckitt Benckiser- Vanish, Finish, Dettol and Harpic, are seen in London, Britain February 12, 2008. REUTERS/Stephen Hird/File Photo

Reckitt Benckiser (RB.L) has agreed to buy U.S. infant formula maker Mead Johnson Nutrition (MJN.N) for $16.6 billion, marking its first step into baby formula, it said on Friday.

LONDON Reckitt Benckiser (RB.L) has agreed to buy U.S. infant formula maker Mead Johnson Nutrition (MJN.N) for $16.6 billion, marking its first step into baby formula, it said on Friday.

Reckitt, the British maker of Lysol cleaners and Durex condoms, will pay $90 a share for the company, a 30 percent premium to the stock’s closing price the day before news of the company’s talks was reported.

Including Mead Johnson’s debt, the deal is worth $17.9 billion.

(Reporting by Martinne Geller- Editing by David Goodman)

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