City Of London
Reckitt’s $7 Billion Formula Sale Draws Muted Interest
- CD&R one of the few firms to submit non-binding offer
- Suitors spooked by ongoing infant formula crisis in the US
Enfamil infant formula
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Reckitt Benckiser Group Plc is struggling with the sale of its infant nutrition unit, with only a small number of private equity funds following through with bids, people familiar with the matter said.
Clayton Dubilier & Rice is one of the few buyout firms that submitted a non-binding bid for the asset, the people said, asking not to be identified discussing confidential information. London-listed Reckitt asked for offers for the business, which could fetch about $7 billion, by late May.