reports
- Please Change Name Brian Weddington
- CFA
Mead Johnson Nutrition Co.: Update to Discussion of Key Credit Factors...
CORPORATES CREDIT OPINION 16 June 2017 Update RATINGS Mead Johnson Nutrition Co. Domicile Glenview, ILLINOIS, United States Long Term Rating A3 Type Senior Unsecured - Dom Curr Outlook No Outlook Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Brian Weddington, CFA 212-553-1678 VP-
- Please Change Name Brian Weddington
- CFA
Mead Johnson Nutrition Merger with Reckitt Benckiser Completed
CHICAGO--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (MJN) announced today that its merger with Reckitt Benckiser Group plc (RB) has been completed. As a result of the transaction, Mead Johnson’s common stock is no longer traded on the New York Stock Exchange, effective today. Mead Johnson is now a division of RB, adding its globally-recognized brands, including Enfa™ and Nutramigen©, to RB’s powerful consumer health portfolio. "We are pleased that the completion of this transaction returns significant and immediate valu...
Final Approval Received for Acquisition of Mead Johnson by Reckitt Ben...
CHICAGO--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) announced that the final regulatory approval has been received in order to complete its acquisition by Reckitt Benckiser Group plc. The transaction is expected to close on Thursday, June 15, 2017, subject to the satisfaction of customary closing conditions at such time. About Mead Johnson Mead Johnson, a global leader in pediatric nutrition, develops, manufactures, markets and distributes more than 70 products in over 50 markets worldwide. T...
Mead Johnson Stockholders Approve Acquisition by RB; Mead Johnson Nutr...
CHICAGO--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) (“Mead Johnson” or the “Company”) announced that its stockholders approved the acquisition of Mead Johnson by Reckitt Benckiser Group plc (“RB”) at a Special Meeting of Stockholders held today in Chicago, Illinois. Shareholders of RB also approved the transaction at a General Meeting held earlier today in London. At Mead Johnson’s Special Meeting, approximately 70.30% of shares outstanding as of the record date were voted in favor of the transaction,...
- Zain Akbari
- CFA
No Change to Outlook as Mead Johnson Posts Earnings; Acquisition on Tr...
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 ...
Mead Johnson Nutrition Reports First Quarter 2017 Results
CHICAGO--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) today announced its financial results for the quarter ended March 31, 2017. Highlights are as follows: Net sales were 8% below the prior year quarter on a reported basis and 5% below the prior year quarter on a constant dollar basis.(1) Gross Margin was 62.6% for the first quarter 2017, which was 130 basis points below the prior year quarter on a GAAP basis and 150 basis points below the prior year quarter on a non-GAA...
Mead Johnson Board of Directors Announces Dividend
GLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) announced today that its board of directors has declared a regular quarterly dividend of $0.4125 per share for the quarter ending March 31, 2017. The dividend will be paid on April 3, 2017, to shareholders of record at close of business on March 13, 2017. About Mead Johnson Mead Johnson, a global leader in pediatric nutrition, develops, manufactures, markets and distributes more than 70 products in over 50 markets worldwide. ...
Mead Johnson Acquires Strategic Capabilities and Capacity in Australia
GLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) is pleased to announce it has reached an agreement to acquire spray drying and finishing capabilities in Australia from Bega Cheese Limited (Bega), one of Australia’s leading dairy product companies. This deal builds on the long and successful relationship between the two companies, as Bega has been a certified ingredient supplier for MJN products since 2009. “We believe that supply chain flexibility is important in the pediatric nutrition category,”...
INVESTOR ALERT: Brower Piven Commences An Investigation Into The Propo...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Mead Johnson Nutrition Company (NYSE: MJN) (“Mead Johnson” or the “Company”) relating to the proposed buyout of Mead Johnson by Reckitt Benckiser Group plc. Under the terms of the agreement, Mead Johnson shareholders are anticipated to receive $90.00 in cash for each share of Mead ...
- Zain Akbari
- CFA
Acquisition by Reckitt Benckiser stands to deliver value to Mead Johns...
Wide-moat Mead Johnson has agreed to be purchased by narrow-moat Reckitt Benckiser for $90 per share in a cash deal valued at $18 billion, and we expect to raise our valuation to $86 per share from $82 (reflecting the present value of the takeout price, assuming a third-quarter close). The tie-up was widely rumored earlier this month, with both companies confirming the talks and the contemplated takeover price at that time. At a 10% premium over our stand-alone fair value estimate of $82 per sha...
SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Pr...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Mead Johnson Nutrition Company (NYSE: MJN) (“Mead Johnson” or the “Company”) relating to the proposed buyout of Mead Johnson by Reckitt Benckiser Group plc. Under the terms of the agreement, Mead Johnson shareholders are anticipated to receive $90.00 in cash for each share of Mead ...
MEAD JOHNSON NUTRITION COMPANY SHAREHOLDER ALERT: Former SEC Attorney ...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Mead Johnson Nutrition Company (“Mead Johnson”) (NYSE: MJN) concerning the sale to Reckitt Benckiser Group plc. Under the terms of the agreement, Mead Johnson shareholders will only receive $90.00 for each share owned, which is lower than the 52-week high and at least one analyst’s estimated value of $95.00 per share. If you are an affected investor, and ...
MEAD JOHNSON NUTRITION COMPANY SHAREHOLDER ALERT: Rigrodsky & Long, P....
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Mead Johnson Nutrition Company (NYSE: MJN)? Did you purchase any of your shares prior to February 10, 2017? Do you think the proposed buyout price is too low? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Mead Johnson Nutrition Company (“Mead Johnson” or the “Company”...
- Zain Akbari
- CFA
Acquisition by Reckitt Benckiser for $90 per Share a Good Deal for Mea...
Wide-moat Mead Johnson has agreed to be purchased by narrow-moat Reckitt Benckiser for $90 per share in a cash deal valued at $18 billion, and we expect to raise our valuation to $86 per share from $82 (reflecting the present value of the takeout price, assuming a third-quarter close). The tie-up was widely rumored earlier this month, with both companies confirming the talks and the contemplated takeover price at that time. At a 10% premium over our stand-alone fair value estimate of $82 per sha...
Mead Johnson Nutrition Agrees to Be Acquired by Reckitt Benckiser
GLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE:MJN) today announced that it has reached an agreement to be acquired by Reckitt Benckiser Group plc (RB), the world’s leading consumer health and hygiene company. As a result of this transaction, Mead Johnson will become a new division of RB with its globally-recognized Enfamil and Nutramigen brands joining RB’s portfolio of leading consumer health brands. RB has agreed to pay $90 cash for each share of Mead Johnson common stock in a transaction valued at ...
- Zain Akbari
- CFA
Mead Johnson Shareholders Could Benefit From a Reckitt Benckiser Acqui...
Wide-moat Mead Johnson has drawn interest from narrow-moat Reckitt Benckiser, with the latter firm in advanced talks to buy the infant-formula-maker for $90 per share ($17 billion), financed with cash and debt. Acquisition speculation has followed Mead Johnson since its 2009 IPO, and the firm has been linked to a variety of suitors (particularly competing formula-makers Danone and Nestle). However, because we do not have any insight as to whether a deal will ultimately materialize, we are holdin...
Mead Johnson Nutrition Statement on Discussions with Reckitt Benckiser...
GLENVIEW, Ill.--(BUSINESS WIRE)-- While it is the longstanding policy of Mead Johnson Nutrition (NYSE:MJN) not to comment on market speculation or rumors, in response to media reports and a subsequent statement released by Reckitt Benckiser plc (RB), the company confirms that it is in discussions with RB with respect to its proposal to acquire the outstanding shares of MJN for $90 per share in cash. Mead Johnson notes that no agreement has been completed, and there are no assurances that any transaction will result from these...
- Zain Akbari
- CFA
On-Track Fourth Quarter Leaves Mead Johnson Poised to Meet Our Forecas...
We do not plan to make a large change to our $82 per share valuation for wide-moat Mead Johnson after it posted fourth-quarter earnings that largely aligned with our targets. In 2016, Mead Johnson reported an 8% revenue decline against a 22% EBIT margin, near our 8% and 21% expectations, respectively. Encouraging signs in the firm's Asian unit as well as our continued belief that recent U.S. market share woes should pass, lead us to leave our long-term forecast intact (5% sales growth and 24% ...
Mead Johnson Nutrition Reports Fourth Quarter and Full Year 2016 Resul...
GLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) today announced its financial results for the quarter and year ended December 31, 2016. Highlights are as follows: Fourth quarter gross sales were 3% below the prior year quarter on a reported basis and in-line with the prior year quarter on a constant dollar(1) basis. Net sales were 7% below the prior year quarter on a reported basis and 3% below the prior year quarter on a constant dollar basis. The difference between gros...
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