Mead Johnson Nutrition: 2017 Earnings Guidance No Longer Applicable

(RTTNews) - Mead Johnson Nutrition Company (MJN) announced, in view of the proposed merger agreement with Reckitt Benckiser Group plc, it will not be hosting an investor conference call to discuss the first-quarter or subsequent financial results. In addition, given the proposed merger, the company believes the previously-issued guidance for Mead Johnson as a standalone entity is no longer applicable. The transaction is expected to close in the third quarter of 2017.

Kasper Jakobsen, CEO, said, "We expect significant benefits from the proposed merger with Reckitt Benckiser, including benefits from scale, potential geographic expansion, and increased resilience within a diversified group to help strengthen our business. Hence, our 2017 annual earnings guidance is no longer applicable and will not be updated."