Reckitt Benckiser considers giving up on sale of infant formula unit - Bloomberg

Jun. 28, 2022 10:37 AM ETReckitt Benckiser Group plc (RBGLY), RBGPFBy: Anuron Mitra, SA News Editor2 Comments

Enfamil Baby Formula

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  • Reckitt Benckiser (OTCPK:RBGPF) (OTCPK:RBGLY) is weighing whether to shelve the sale of its infant formula unit, Bloomberg said on Tuesday, citing people familiar with the matter.
  • Talks between London-listed Reckitt and potential acquirers have stalled in recent works, Bloomberg said.
  • The unit, which produces Enfamil branded baby formula, was expected to fetch around $7B.
  • The shelving plans would come amidst an ongoing infant formula crisis in the U.S. which, along with disagreements over valuation and lack of available funding, complicated the deal talks, Bloomberg said.
  • Private equity firm Clayton Dubilier Rice was said to have submitted a bid for the Reckitt unit.

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