Fly News Breaks for March 17, 2016
NSRGY, DANOY, MJN
Mar 17, 2016 | 07:34 EDT
Danone (DANOY) and Nestle (NSRGY) are unlikely near-term suitors for Mead Johnson (MJN), JPMorgan analysts Ken Goldman and Celine Pannuti tell investors in a research note after Betaville's Ben Harrington reported Tuesday that Mead is working with Lazard after receiving takeover interest. A combination with Danone or Nestle is not the most likely outcome, the analysts contend. Danone's focus on organic growth makes a large acquisition unlikely for now while Nestle is unlikely to be interested given antitrust issues and the need to prove that its prior investments are paying off, Goldman and Pannuti argue. The analysts point out that Harrington has had some success with prior market prognostications and that Mead may very well be for sale. The maker of infant baby formula closed yesterday down 97c to $82.81 but its shares are up over 10% over the past five trading days.
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