No Change to Outlook as Mead Johnson Posts Earnings; Acquisition on Track
We are lifting our valuation for wide-moat Mead Johnson to $87 per share from $86 to reflect the time value of money after the firm posted first-quarter earnings. The company’s pending $17 billion acquisition by Reckitt Benckiser for $90 per share remains on track, and the firm continues to expect the transaction to close by the end of the third quarter. With the transaction well on its way and Danone’s acquisition of WhiteWave successfully closed after a lengthy anti-trust review (quelling that...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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