Reckitt Benckiser Confirms $16.7 Billion Mead Johnson Approach
Reckitt Benckiser tops the FTSE 100 gainers after the company confirms a multibillion dollar Mead Johnson acquisition offer
Reckitt Benckiser (RBGLY) shares surged to the top of London's FTSE 100 on Thursday after the consumer goods maker said it's in talks to acquire Mead Johnson (MJN) in what could be a $16.7 billion deal.
Reckitt Benckiser said the talks were "advanced" and that it was offering $90 per share in cash for the baby formula marker, a figure that represents an almost 30% premium to Mead Johnson's closing share price of $69.50 on Wednesday in New York.
Mead Johnson shares skyrocketed in after-hours trading after press speculation about a possible purchase, rising 23.7% to $86.
