Reckitt Benckiser Group plc (LSE:RB) signed an agreement to acquire Mead Johnson Nutrition Company (NYSE:MJN) for $16.6 billion in cash on February 10, 2017. Mead Johnson shareholders will receive $90 in cash for each share of common stock. Each outstanding restricted stock unit, performance unit and in the money option will be converted into right to receive $90 per share. The acquisition will be financed through new fully underwritten debt facilities with Bank of America Merrill Lynch, Deutsche Bank and HSBC. These facilities include $9 billion of term loans over 3 to 5 years and $8 billion of bridge funding to cover the cash consideration plus a further $3 billion to refinance existing Mead Johnson bonds if required. They also include an additional £1 billion ($1.25 billion) revolving credit facility to provide financing headroom from the date of completion. Reckitt Benckiser expects to refinance the bridge by the issuance of bonds to reflect the expected cash flows of the combined group. As a result of the transaction, Mead Johnson will become a new division of Reckitt Benckiser, reporting directly to the Chief Executive Officer of Reckitt Benckiser. In the event of termination, either Mead Johnson or Reckitt Benckiser will be liable to pay a termination fee of $480 million. A select number of key Reckitt Benckiser employees will transfer into the Mead Johnson division. The acquisition is subject to approval by shareholders of Mead Johnson and Reckitt Benckiser, expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, regulatory approvals (including in the US, China and other markets), and certain other customary conditions. The Boards of Reckitt Benckiser and Mead Johnson have both unanimously approved the transaction and have resolved to recommend that their respective shareholders vote in favor of the transaction. As of March 13, 2017, the transaction received approval from the Brazilian Antitrust Authority (CADE). As of March 24, 2017, the transaction was granted early termination notice from FTC. As on May 31, 2017, following the General and Special Meetings, 99.33% shareholders of RB and approximately 70.3% shareholders of MJN voted in favor of the transaction. As of June 12, 2017, the transaction received the final regulatory approval. The transaction is expected to close on or before September 10, 2017. As of June 12, 2017, it is expected that the transaction will close on June 15, 2017. The acquisition is expected to be accretive to adjusted diluted earnings per share in the first full year following completion and double-digit accretive by third year for Reckitt Benckiser. Robey Warshaw LLP, HSBC Bank Plc and Merrill Lynch International acted as financial advisors for Reckitt Benckiser. Deutsche Bank acted as financial advisor, corporate broker and sponsor for Reckitt Benckiser. John D. Amorosi and Harold Birnbaum, Daniel Brass, Morgan Lee and Jenny Ge., Edmond T. FitzGerald, Florentino Salazar, Michael Mollerus of Davis Polk & Wardwell LLP and William Buckley of Linklaters LLP acted as legal advisors for Reckitt Benckiser. Michael Carr, Andre Kelleners, Marko Ratesic and Christian Bauer of Goldman, Sachs & Co. for a transaction fee of approximately $40 million and Clint Gartin, Susan Huang, Kristen Rossi and David Khayat of Morgan Stanley & Co. LLC for a transaction fee of approximately $24 million acted as financial advisors for Mead. Jonathan L. Davis, Daniel Wolf, David Holdsworth and Willard Boothby of Kirkland & Ellis LLP acted as legal advisor for Mead Johnson. Gabrielle Silver and David Litterick of Brunswick acted as public relations advisors for Reckitt Benckiser. Cleary Gottlieb acted as legal advisor to Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC, financial advisors to Mead Johnson Nutrition Company. Kristen Garry, Simon Letherman and David Dixter of Shearman & Sterling LLP acted as legal advisor to Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith. Mark Katz and Charles Tingley of Davies Ward Phillips & Vineberg LLP acted as legal advisor to Reckitt Benckiser Group plc (LSE:RB). Jonny Myers, Jenine Hulsmann, Taner Hassan, Christopher Sullivan, Gareth Dray, Shimin Lee Elizabeth Sinclair, Jonathan Halliwell, Petra Carey, Jim MacHale, Daniel Neidle, John Healy, Erika Bucci, Asta Evans, David Robson, Neil Cavanagh and Thomas Critchley of Clifford Chance LLP acted as legal advisors to Bank of America Merrill Lynch, Deutsche Bank, HSBC, HSBC BANK PLC. Reckitt Benckiser Group plc (LSE:RB) completed the acquisition of Mead Johnson Nutrition Company (NYSE:MJN) on June 15, 2017. As a result, Mead’s stock is no longer traded on New York Stock Exchange effective June 15, 2017.