Reckitt Benckiser: ends talks to buy Pfizer consumer unit
(CercleFinance.com) - Reckitt Benckiser, the maker of Nurofen painkillers and Durex condoms, has ended talks to acquire Pfizer's consumer healthcare business, the British company said on Thursday.
The Slough, UK-based firm said it has ended discussions with Pfizer, as its proposal was for part of the business only.
"We always approach inorganic growth opportunities in a rigorous, disciplined, and financially responsible manner to ensure long-term value creation for shareholders," commented Reckitt's CEO Rakesh Kapoor.
"An acquisition of the whole Pfizer consumer health business did not fit our acquisition criteria and an acquisition of part of the business was not possible," he added.
Reckitt Benckiser said it now plans to focus on completing the integration of Mead Johnson Nutrition and the creation of two new business units - Health and Hygiene Home.
Its shares were up 5.6 percent on the news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Slough, UK-based firm said it has ended discussions with Pfizer, as its proposal was for part of the business only.
"We always approach inorganic growth opportunities in a rigorous, disciplined, and financially responsible manner to ensure long-term value creation for shareholders," commented Reckitt's CEO Rakesh Kapoor.
"An acquisition of the whole Pfizer consumer health business did not fit our acquisition criteria and an acquisition of part of the business was not possible," he added.
Reckitt Benckiser said it now plans to focus on completing the integration of Mead Johnson Nutrition and the creation of two new business units - Health and Hygiene Home.
Its shares were up 5.6 percent on the news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.