Mead Johnson announces $500 million share buyback
NEW YORK, Sept 11
NEW YORK, Sept 11 (Reuters) - Mead Johnson Nutrition Co. announced Wednesday that its board approved a new $500 million share repurchase program.
The latest buyback follows a $300 million repurchase authorization announced in March 2010, of which $9.7 million currently remains.
The maker of Enfamil formula said last month it would pay the government of China a penalty of about $33 million related to a probe into anti-competitive behavior by baby formula makers.