Mead Johnson Up Almost 8% After Betaville Reports Of Takeover Interest

Shares of Mead Johnson Nutrition Co MJN climbed almost 10 percent in the pre-market trading after financial blog Betaville reported takeover interest for the company from the European majors Nestle SA (ADR) NSRGY and Danone SA (ADR) DANOY.

"Good sources tell me Mead Johnson has begun working bankers at Lazard following expressions of interest from European rivals Nestle and Danone," Ben Harrington wrote in the Betaville blog post.

Related Link: Is Buyout Rumor Buying Broken Mead Johnson Out Of Its Bearish Trading Pattern?

"I have also been told Danone has lined up JP Morgan and BNP Paribas for its potential tilt at Mead Johnson. It's not clear which investment bank is advising Nestle," Harrington added.

Last month, Benzinga had written on the takeover rumors surrounding the company.

Shares of Mead Johnson at one point gained 9.65 percent to $82.72 in the pre-market hours. The stock was seen up 7.61 percent on Tuesday at $81.18.