Sale of Meade Johnson baby formula food has yet to be formally announced

LONDON The owner of the Meade Johnson baby formula food business is seeking potential buyers and estimates its worth between $7 billion and $9 billion, according to published reports.

Although Bristol-Myers Squibb has not formally announced its decision to sell the business, many reports claim that it has already approached such companies as PepsiCo, Danone, Nestle, Kraft and HJ Heinz, to create a formal auction for the business.

Selling Meade Johnson would be another effort in the recent actions that have been consolidating the baby food market, but the sales process for the business has yet to begin.