Reckitt weighs shelving infant nutrition unit sale – Bloomberg News
(Reuters) -Britain’s Reckitt Benckiser Group is considering if it should shelve the sale of its infant nutrition unit, as high-profile deals fall victim to a worsening financing market , Bloomberg News reported on Tuesday.
Talks between the Enfamil baby formula maker and potential buyers have stalled in recent weeks, the report said citing people familiar with the matter.
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Reckitt declined to comment on the report.
Bloomberg News reported that disagreements over valuation, a lack of available funding and an ongoing baby formula crisis in the U.S. complicated efforts to sell the business.
The U.S. baby formula crisis had boosted profits at Reckitt and helped it grab the top spot in a $5.8 billion-a-year market.
Reckitt has not made a final decision on whether to formally pull the sale, the report said.
Shares of the consumer goods company were trading 0.1% higher by 1419 GMT.
(Reporting by Radhika Anilkumar in Bengaluru; Editing by Krishna Chandra Eluri)