Mead Johnson could be worth $120-$130 in a takeout, says Citigroup Citigroup says a Wall Street Journal article yesterday about Danone (DANOY) launching a strategic review has renewed speculation in the company being a potential acquirer of Mead Johnson (MJN). Citi says a buyout of Mead is in the "realm of possibility," and it estimates the company is worth $120-$130 per share in a takeout. The firm raised its price target for Mead shares to $109 from $105 citing the company's revenue momentum following its Q2 results. Citi reiterates a Buy rating on Mead.
Danone says doesn't need major acquisition, Reuters reports Danone doesn't need to make a major acquisition "to be operational," its CEO said at a conference today, according to Reuters. Reference Link