Household products giant Reckitt buys baby formula firm Mead Johnson for $16.6bn

Durex owner Reckitt Benckiser is to acquire US baby formula maker Mead Johnson for 16.6 billion US dollars.

The UK household products giant, which is also behind Cillit Bang and Dettol, said it would pay 90 US dollars per share in cash for Mead Johnson. Including debt, the deal is worth 17.9 billion US dollars.