LONDON: Reckitt Benckiser Group Plc emerged as a surprise suitor for perennial bid candidate Mead Johnson Nutrition Co, starting talks on a US$16.7bil purchase of the baby food maker to build its faster growing consumer-health business and bolster its presence in Asia.
The UK-based maker of Lysol cleaners said it’s in advanced negotiations to acquire the US company for US$90 a share in cash, 29% above Mead Johnson’s last closing price. Mead Johnson soared 24% to US$86 in after-hours trading in the US, while Reckitt Benckiser shares rose as much as 5.3% in London.
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