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Danone finishes Medical Nutrition acquisition

This article was originally published in The Tan Sheet

Executive Summary

Medical Nutrition USA becomes Danone North America's wholly owned subsidiary July 22, with $4 paid for each outstanding share. Danone looks to become more competitive in the long-term care product category, where it competes primarily with Nestle. The takeover was announced June 11 to some outcry, as lawyers investigating the deal claimed stockholders did not get a fair deal. They argued the company, which posted a 29.7 percent increase in net sales in the preceding quarter, should have held out for a larger offer 1("The Tan Sheet" June 21, 2010)
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