Mead Johnson Nutrition Co Acquired For $90

A company which employs hundreds of people in Derby has confirmed it will buy a USA baby formula maker in a deal worth a massive £13.3 billion.

Mead Johnson Nutrition CO and Reckitt Benckiser Group Plc-ADR are expecting the deal to close during the third quarter of 2017.

The U.K. company, which owns Durex condoms and Scholl footcare, earlier this month disclosed that it was in talks with Mead after The Wall Street Journal reported on the potential deal.

Apache Corporation (APA) shares were down in last trading by -0.18% to $56.93. The deal will also significantly boost the company's exposure to the USA, which remains its No. 1 market.

More news: Disney CEO reveals opening dates for Avatar, Star Wars lands

Small-company stocks did better than larger ones.

Mead Johnson Nutrition Company (NYSE:MJN) topped its 52-week high price of $94.4 on Jul 26, 2016 and 52-Week Low Price of $69.12 on Feb 11, 2016.

In the past 6 months, 6 Insider purchases and 6 Insider Sales were made in which 31500 shares were traded as Insider purchases and 24848 shares were exchanged as Insider Sales. Finally, William Blair Investment Management LLC bought a new stake in shares of Mead Johnson Nutrition Company during the second quarter worth $142,077,000. The Stock now has the market capitalization of $15.56 Billion, P/E (price to earnings ttm) of 31.2 and Weekly volatility of 1.73% and monthly volatility of 2.21% respectively.

Mead Johnson Nutrition Company (NYSE:MJN) last posted its quarterly earnings results on Thursday, January 26th. The reported earnings per share topped the analyst's consensus by $-0.03 with the percentage difference between estimated and actual earnings arriving at -3.70%. The company earned $901.60 million during the quarter, compared to analyst estimates of $928.84 million.

More news: Hideki Matsuyama continues strong start to 2017, wins Phoenix Open

The Reckitt Benckiser Group agreed to buy the Mead Johnson Nutrition Co. for $16.6 billion. During the same quarter in the prior year, the company earned $0.78 EPS.

MJN has been the topic of several other research reports. The Glenview Illinois 60026 based company operating under the Processed & Packaged Goods industry has been trending up for the last 52 weeks, with the shares price now 26.3% up for the period and up by 18.65% so far this year. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock.

Reckitt expects the global infant and children's nutrition category to grow at a rate of approximately 3-5% per annum in the medium to long term, citing demographic trends, particularly in developing markets, such as urbanization and increasing spend on premium nutrition, as well as changes to China's one-child policy.

More news: How Bout Them Cowboys?! Team wins big at NFL Honors


Popular
  • Sean Spicer Slams NBC Reporter on Navy SEAL's Death in Yemen

    Sean Spicer Slams NBC Reporter on Navy SEAL's Death in Yemen

    But observers monitoring the conflict estimate that between 380 and 801 civilians were killed by drone strikes in that period. On Telegram, channels affiliated with al-Qaeda celebrated Trump's " failure in the first military operation he had ordered".
    President Donald Trump, First Lady attend Red Cross Ball

    President Donald Trump, First Lady attend Red Cross Ball

    It's unclear if Trump will speak at this year's event. "We'll win", he said, according to the Post. The president and first lady are scheduled to spend the weekend in Palm Beach.
    Facebook Revenues Soar As Its Nears 2 Billion Users

    Facebook Revenues Soar As Its Nears 2 Billion Users

    Adjusted earnings for the quarter rose to $4.15 billion or $1.41 per share from $2.27 billion or $0.79 per share a year ago . In December, Facebook saw an average of 1.23 billion daily active users (DAUs ) - an increase of 18% year-over-year.
  • Maryland blogger settles defamation suit brought by Melania Trump

    Maryland blogger settles defamation suit brought by Melania Trump

    Trump's attorneys provided a copy of the refiled lawsuit they said they entered in NY state court. Trump's new suit has been filed with the New York State Supreme Court in Manhattan.

    Tesla Model S now a wee bit more ludicrous

    It costs about $135,000 compared to a $1.5 million Ferrari LaFerrari, $1.1 McLaren P1 or the $845,000 Porsche 918 Spyder. For comparison, it takes 2.99 seconds to get there in a Toyota Camry XSE, "America's most ordinary vehicle ".
    Mattis Pumps up THAAD, But China Likely to Keep 'Bullying' Korea

    Mattis Pumps up THAAD, But China Likely to Keep 'Bullying' Korea

    Its president, Park Geun-hye, had her duties suspended last month after impeachment over corruption allegations. But his trip here comes at a time of uncertainty about US intentions after the imposition of new.
  • GM, Honda to work together to build fuel cell systems in MI

    The companies are making equal investments totaling $85 million in the joint venture. GM and Honda collaborated in a powertrain cross-supply arrangement in 1999.
    'Certainly a chance' of moving embassy to Jerusalem

    'Certainly a chance' of moving embassy to Jerusalem

    Palestinian officials said the embassy's relocation would kill off any prospects for peace. President Trump has said that he will move the country's Israeli embassy to Jerusalem .
    Extreme vetting measures will keep USA  safe from terrorists

    Extreme vetting measures will keep USA safe from terrorists

    Adam Kinzinger (R-Ill.), who remained critical of Trump throughout the campaign. "I think it's going to be very successful". The Executive Order will also drastically reduce Exodus' funding for services to refugees already in the U.S.
  • European Union  leader: United States  'committed' to Iran nuclear deal

    European Union leader: United States 'committed' to Iran nuclear deal

    Ms Mogherini made the remarks on the second day of a two-day visit to Washington, her first since Donald Trump became President.
    GoPro shares plummet after ugly earnings report

    GoPro shares plummet after ugly earnings report

    The Karma finally went back on sale Wednesday, but wasn't around for the crucial holiday shopping season. To be fair, it's hard to measure how much that missed marketing opportunity hurt sales.
    Lava Video Shows People Getting Too Close

    Lava Video Shows People Getting Too Close

    Below, a goofily narrated video from last Thursday, January 26, and further below, video shot yesterday by Big Island Video News . Kilauea has been erupting for 30 years and is believed to have formed anywhere between 300,000-600,000 years ago.

CONNECT