Reckitt Benckiser acquires Mead Johnson for $17.9m

Reckitt Benckiser has acquired the US-based milk formula producer Mead Johnson for $17.9bn, entering the business currently leaded by giants Nestlé and Danone, which respectively hold a 22% and a 13% market share. The agreement includes a $480m break-fee in case one of the parties terminates the agreement. In addition, Reckitt Benckiser takes on the considerable acquiree’s debt, which is now as much as $1.3bn. Reckitt benckiser’s shares (LSE) were down by approximately 1.5% after the acquisition was announced. (Source Reckitt Benckiser)