Mead Johnson Nutrition Co., (MJN) said that Bristol-Myers Squibb Co., (BMY) has successfully completed its exchange offer, resulting in the split-off of Mead Johnson.
The BMS offer was oversubscribed, with tenders for nearly double the 170 million shares of MJN that were available. Those now publicly-held shares carry a market value in excess of $7.3 billion, representing the fourth largest U.S. split-off undertaken in the last 20 years and the largest since 2001.
The transaction comes pursuant to Mead Johnson's initial public offering in February, when 17% of its shares were offered to the public. Since then, Mead Johnson has been the best performing initial public offering stock on the New York Stock Exchange, with an increase of nearly 80% from its initial offering share price.
The company's total market capitalization stands at more than $8.8 billion, and its stock is one of the newest additions to the S&P 500 Index.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.