NEW YORK, Feb. 14, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Mead Johnson
Nutrition Company (NYSE: MJN) ("MJN" or the "Company") in
connection with the proposed acquisition of the Company by
Britain's Reckitt Benckiser Group
Plc.("Reckitt Benckiser") for $17.9
billion, inclusive of debt. Under the terms of the
agreement, the Company's shareholders will receive $90.00 in cash for each MJN share they own.
WeissLaw is investigating whether MJN's Board acted to maximize
shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price of
$95.00 per share, or $5.00 above the offer price. Additionally, the
per-share consideration is also $4.40
lower than the Company's 52-week high of $94.40. Finally, the deal doubles the size of
Reckitt Benckiser's consumer health segment and increases its
exposure in emerging markets. This will provide significant
relief for Reckitt Benckiser, which has experienced a recent
slow-down in growth. It recently announced 3% revenue growth
for 2016, its weakest report in over a decade. The deal offers
Reckitt Benckiser solid opportunities for growth, and it
anticipates double-digit percentage growth in earnings per-share
after closing.
Given these facts, WeissLaw is investigating whether MJN's Board
acted in the best interests of MJN's public shareholders to
maximize shareholder value prior to entering into the agreement. If
you own MJN shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua Rubin
by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/mead-johnson-nutrition-company/
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/weisslaw-llp-mead-johnson-nutrition-company-acquisition-may-not-be-in-the-best-interests-of-mjn-shareholders-300407476.html
SOURCE WeissLaw LLP