Nestle Said Examining Takeover of Mead Johnson (MJN) - Source

January 18, 2017 1:52 PM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Swiss packaged food giant Nestle is interested in acquiring Mead Johnson (NYSE: MJN), an Illinois-based company that manufactures and sells infant formulas or other nutritional products, according to a person claiming to have knowledge of the matter.

Credit Suisse is advising on the potential deal, and if talks go smoothly a transaction could be announced before March, the person said.

Mead Johnson has an enterprise value of roughly $14.5 billion, and it is seen as among a handful of companies that stand at the nexus of a major consolidation wave in consumer staples, especially in packaged food. Chatter about a potential takeover has been around since last March, several months before Danone's proposed $12.5 billion takeover of peer WhiteWave was announced. At the time, Danone and Nestle were both mentioned as potential suitors for Mead Johnson.

A representative for Nestle said it doesn't comment on rumors as a matter of principle. Mead Johnson didn't respond to a request to comment.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Hot M&A, Mergers and Acquisitions, Rumors

Related Entities

Credit Suisse