Mead Johnson Nutrition Statement on Discussions with Reckitt Benckiser plc
February 01 2017 - 10:52PM
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
discussions. The company does not intend to make any additional
comments regarding this matter unless and until a formal agreement
has been reached or discussions have been terminated.
Mead Johnson remains committed to doing what is best for its
shareholders, employees and, as always, the children, families and
health care professionals around the world who trust and depend on
its products and expertise.
Forward-Looking
Statements
This news release contains certain statements with respect to a
possible transaction involving Mead Johnson and Reckitt Benckiser
that are forward-looking as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements may
be identified by the fact they use words such as “should,”
“expect,” “anticipate,” “estimate,” “target,” “may,” “project,”
“guidance,” “intend,” “plan,” “believe” and other words and terms
of similar meaning and expression. Forward-looking statements can
also be identified by the fact that they do not relate strictly to
historical or current facts. Such forward-looking statements are
based on current expectations that involve inherent risks,
uncertainties and assumptions that may cause actual results to
differ materially from expectations as of the date of this news
release. These risks include, but are not limited to: (1) the
possibility that a possible transaction will not be pursued or
fails to be consummated; (2) adverse effects on the market price of
Mead Johnson’s common stock and on Mead Johnson’s operating results
because of a failure to enter into or complete the possible
transaction; (3) negative effects relating to the announcement of
the possible transaction or any further announcements relating to
the possible transaction or the entrance into or consummation of
the possible transaction on the market price of Mead Johnson’s
stock; (4) the ability to sustain brand strength, particularly the
Enfa family of brands; (5) the effect on the company’s reputation
of real or perceived quality issues; (6) the effect of regulatory
restrictions related to the company’s products; (7) the adverse
effect of commodity costs; (8) increased competition from branded,
private label, store and economy-branded products; (9) the effect
of an economic downturn on consumers’ purchasing behavior and
customers’ ability to pay for product; (10) inventory reductions by
customers; (11) the adverse effect of changes in foreign currency
exchange rates; (12) the effect of changes in economic, political
and social conditions in the markets where we operate; (13)
changing consumer preferences; (14) the possibility of changes in
the Women, Infants and Children (WIC) program or participation in
WIC; (15) legislative, regulatory or judicial action that may
adversely affect the company’s ability to advertise its products,
maintain product margins, or negatively impact the company’s
reputation or result in fines or penalties that decrease earnings;
and (16) the ability to develop and market new, innovative
products. For additional information regarding these and other
factors, see the company’s filings with the United States
Securities and Exchange Commission (the “SEC”), including its most
recent Annual Report on Form 10-K, which filings are available upon
request from the SEC or at www.meadjohnson.com. The company cautions readers
not to place undue reliance on any forward-looking statements,
which speak only as of the date made. The company undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or
otherwise.
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. The company’s mission is to nourish the
world’s children for the best start in life. The Mead Johnson name
has been associated with science-based pediatric nutrition products
for over 110 years. The company’s “Enfa™” family of brands,
including Enfamil® infant formula, is a world leading brand
franchise in pediatric nutrition.
For additional information on the company, you can go
to www.meadjohnson.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170201006442/en/
Mead Johnson NutritionMediaChristopher
Perille1.847.832.2178chris.perille@mjn.comorInvestorsKathy
MacDonald1.847.832.2182kathy.macdonald@mjn.com
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