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The head of infant formula food maker Mead Johnson Nutrition Co. (MJN) has dismissed rumors his company will be taken over by Swiss food giant Nestle SA (NESN.VX), China Daily reports.
Mead Johnson Chief Executive Stephen Golsby said merger and acquisition rumors about his company were constantly active.
"None of them are true," Golsby told the newspaper, adding that Mead Johnson was focussing on its infant and child nutrition business which he said was growing strongly worldwide.
Nestle, together with Danone SA (BN.FR), has also been linked to a deal for the infant nutrition business of Pfizer Inc. (PFE) which has been valued at up to $10 billion.
A spokeswoman for Nestle declined to comment on the report.
Newspaper website: www.chinadaily.com.cn
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