It’s official: a British company is buying Mead Johnson.
Reckitt Benckiser has agreed to buy the baby formula maker for $16.6 billion.
The maker of Lysol cleaners, Mucinex cold medicine, and Scholl foot products says it will pay $90 each for Mead Johnson shares.
MJ makes Enfamil baby formula and other nutrition products and has operated in Evansville for 102 years.
The employs about 950 workers.
Including Mead Johnson's debt, the deal is worth $17.9 billion.
Reckitt says it will finance the acquisition with debt underwritten by Bank of America, Merrill Lynch, Deutsche Bank, and HSBC.
Reckitt’s business has been hurt by a safety scandal in South Korea, slowing emerging markets, and a "failed" Scholl product.
The company forecasts 2017 sales growth below some analyst estimates.