British consumer products giant Reckitt Benckiser Group plc announced on Feb. 10 its $17.9 billion buy of Glenview, Illinois-based baby formula maker Mead Johnson Nutrition Co., a baby formula maker known for brands like Enfamil.
The deal, the largest in Reckitt’s history and worth some $16.6 billion, excluding debt, is expected to close in the third quarter of this year. The transaction also opens up a new market for Reckitt Benckiser products—such as Durex condoms, Lysol cleaners and Woolite laundry detergent—in Asia.
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