An investigation on behalf of investors of Mead Johnson Nutrition CO (NYSE:MJN) in connection with the proposed takeover was announced and NYSE:MJN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/13/2017 -- The takeover of Mead Johnson Nutrition CO is under investigation over potential wrongdoing. The investigation was announced for investors in shares of Mead Johnson Nutrition CO (NYSE:MJN) over whether the buyout of Mead Johnson Nutrition CO by Reckitt Benckiser Group plc for $90 per share is unfair.
Investors who purchased shares of Mead Johnson Nutrition CO (NYSE:MJN) and currently hold any of those NYSE:MJN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Mead Johnson Nutrition directors breached their fiduciary duties owed to NYSE:MJN investors in connection with the proposed acquisition.
On February 10, 2017, Mead Johnson Nutrition Company announced that it has reached an agreement to be acquired by Reckitt Benckiser Group plc. Reckitt Benckiser Group plc has agreed to pay $90 cash for each share of Mead Johnson common stock in a transaction valued at approximately $17.9 billion (including net debt).
However, given that at least one analyst has set the high target price for NYSE:MJN shares at $95.00 per share and given that NYSE:MJN shares traded in 2106 as high as $93.00 per share, the investigation concerns whether the offer is unfair to NYSE:MJN stockholders. More specifically, the investigation concerns whether the Mead Johnson Nutrition Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On February 10, 2017, shares of Mead Johnson Nutrition CO (NYSE:MJN) closed at $87.72 per share.
Those who are current investors in Mead Johnson Nutrition CO shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com