Latest news with #ReckittBenckiser
Globe and Mail
a day ago
- Business
- Globe and Mail
RBGLY LAWSUIT ALERT: Levi & Korsinsky Notifies Reckitt Benckiser Group plc Investors - Lead Plaintiff Deadline August 4, 2025
New York, New York--(Newsfile Corp. - July 18, 2025) - If you suffered a loss on your Reckitt Benckiser Group plc (OTCQX: RBGLY) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: or contact Joseph E. Levi, Esq. via email at jlevi@ or call (212) 363-7500 to speak to our team of experienced shareholder advocates. Cannot view this video? Visit: THE LAWSUIT: A class action securities lawsuit was filed against Reckitt Benckiser Group plc that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between January 13, 2021 and July 28, 2024. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) preterm infants were at an increased risk of developing NEC by consuming Reckitt's cow's milk-based formula, Enfamil; (2) of the attendant impact on Reckitt's sales of Enfamil and Reckitt's exposure to legal claims; and (3) as a result of the above, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. WHAT'S NEXT? If you suffered a loss in Reckitt Benckiser Group plc stock during the relevant time frame - even if you still hold your shares - go to to learn about your rights to seek a recovery. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
Irish Examiner
a day ago
- Business
- Irish Examiner
Reckitt to sell homecare unit including Air Wick and Cillit Bang for $4.8bn
Reckitt Benckiser agreed to sell most of its homecare business to private equity firm Advent International for an enterprise value of up to $4.8bn (€4.12bn) as the UK consumer goods company focuses on faster-growing operations. Reckitt said it will retain a 30% stake in the business, whose brands include Air Wick air fresheners and Cillit Bang cleaners. The enterprise value includes up to about $1.3bn (€1.1bn) of contingent and deferred consideration, the company said on Friday. Shares of Reckitt rose as much as 2.3% in early London trading before paring back some of the gains. The stock is up nearly 14% in the past 12 months Chief executive Kris Licht last year announced plans to sell some of Reckitt's non-core homecare brands and review options for its infant formula business. The proposed sale was part of his strategy to streamline Reckitt and focus on faster growing parts of the business, after a difficult few years where consumer goods companies have had to contend with stretched consumer budgets and shoppers trading down to unbranded products. Reckitt's homecare unit was boosted during the pandemic when demand for cleaners and disinfectants soared, but those benefits have diminished. The company now expects faster growth from consumer-health labels like Strepsils lozenges, Durex condoms and Mucinex cold remedies, while retaining better performing home-care brands like Lysol and Dettol. Reckitt expects to pay a special dividend of $2.2bn (€1.89bn) to shareholders following the completion of the deal, which is expected by December 31. It will also incur one-time costs of about $800m related to the transaction. Barclays and Citigroup advised Advent, while Goldman Sachs and Morgan Stanley were lead financial advisers to Reckitt. The valuation for the businesses being sold is below the initial $8bn Reckitt sought when it put the brands up for sale last year. Reckitt's sale process was hit with anxiety around US tariffs, which has cast uncertainty over the the outlook for global businesses with international manufacturing. The deal has been structured so that the greater risk in the current market environment is shared between the two parties, with Reckitt retaining a stake and needing to hit certain milestones to generate the full payout. With a lot resting on a successful execution of a deal for the homecare assets this outcome should still 'be a boost to management's credibility,' according to James Edwardes Jones and Wassachon Udomsilpa, RBC analysts. They said it will enable investors to focus more closely on the core Reckitt business in a note to clients. The deal will be financed with about $2.3bn of term loans, denominated in euro and dollars, underwritten by a group of banks and it's expected to be syndicated to institutional investors post summer. In March, Reckitt said it expects modest sales growth this year as it reshapes the business — a move it said would deliver a significantly stronger performance starting in 2026. The infant formula unit, created by the $17bn acquisition of Mead Johnson in 2017, remains a sore point for Reckitt. Licht acknowledged last year that the unit, which has been hit by legal woes in the US, hasn't always been a natural fit in the group. Bloomberg
Yahoo
2 days ago
- Business
- Yahoo
FTSE 100 LIVE: London markets higher after week of records for indices
The FTSE 100 (^FTSE) and European stocks ticked higher in early trade on Friday, rising following a week which saw indices touch record highs in the UK and US. London's premier index headed past the symbolic 9,000 threshold earlier in the week, and was trading just below that mark on Friday. Over in the US, the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) vaulted to their latest records on fresh signs of strength in the US economy. Investors were buoyed Thursday by a softening on jobless claims and stronger-than-expected retail sales, with little indication that president Donald Trump's tariffs are so far affecting consumer spending habits. Meanwhile, digital assets also rallied, with fresh all-time highs for bitcoin (BTC-USD) as investors cheered more crypto-friendly regulation being proposed in the US. Bitcoin traded above $122,000 for the first time. The FTSE 100 rose 0.1% after the opening bell. Reckitt Benckiser (RKT.L) was among the top risers in the index as it said it has agreed a deal to sell its Cillit Bang business for $4.8bn (£3.6bn). The DAX (^GDAXI) in Germany gained 0.4%. Over in France, the CAC 40 (^FCHI) was also up 0.4%, and the STOXX 600 (^STOXX) headed 0.3% into the green. Here's the Netflix chart Netflix stock dips despite better than expected quarter Dan Coatsworth, investment analyst at AJ Bell, ss Bang and the business is gone: Reckitt sells Cillit and Calgon arm Household goods giant Reckitt Benckiser has agreed a deal worth up to $4.8bn (£3.6bn) to sell its majority stake in its Cillit Bang and Calgon arm. Private equity firm Advent International will buy a 70% stake in Reckitt's essential home cleaning products business, which also includes brands such as Air Wick, Woolite, Resolve, Sole and Easy-Off, as well as around 75 other brands across more than 70 markets. Reckitt will keep a 30% stake in the essential home business after the sale, with up to $1.3bn dollars (£968m) deferred under the deal. The firm will also book around $800m (£596m) in costs for splitting out the essential home division from the rest of the business. It expects to complete the deal by the end of the year. Here's the US stock futures chart US stock futures rise US stock futures tipped higher on Friday after the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) vaulted to their latest records on fresh signs of strength in the US economy. Dow Jones Industrial Average futures (YM=F) rose 0.2%. Futures tied to the S&P 500 (ES=F) were up 0.2%, while those on the tech-heavy Nasdaq (NQ=F) climbed 0.2%. The tech-heavier indexes clinched records Thursday, part of a record-setting run as Wall Street turned bullish in the second quarter. Investors were buoyed Thursday by a softening on jobless claims and stronger-than-expected retail sales, with little indication that President Trump's tariffs are so far affecting consumer spending habits. Read more on Yahoo Finance Good morning! Hello from London. The calendar is not very busy in terms of economic events today, but earnings season is in full swing again — here's what we're watching: American Express (AXP) Q2 report Charles Schwab (SCHW) Q2 report Others here. Let's get to it. Here's the Netflix chart Netflix stock dips despite better than expected quarter Dan Coatsworth, investment analyst at AJ Bell, ss Dan Coatsworth, investment analyst at AJ Bell, ss Bang and the business is gone: Reckitt sells Cillit and Calgon arm Household goods giant Reckitt Benckiser has agreed a deal worth up to $4.8bn (£3.6bn) to sell its majority stake in its Cillit Bang and Calgon arm. Private equity firm Advent International will buy a 70% stake in Reckitt's essential home cleaning products business, which also includes brands such as Air Wick, Woolite, Resolve, Sole and Easy-Off, as well as around 75 other brands across more than 70 markets. Reckitt will keep a 30% stake in the essential home business after the sale, with up to $1.3bn dollars (£968m) deferred under the deal. The firm will also book around $800m (£596m) in costs for splitting out the essential home division from the rest of the business. It expects to complete the deal by the end of the year. Household goods giant Reckitt Benckiser has agreed a deal worth up to $4.8bn (£3.6bn) to sell its majority stake in its Cillit Bang and Calgon arm. Private equity firm Advent International will buy a 70% stake in Reckitt's essential home cleaning products business, which also includes brands such as Air Wick, Woolite, Resolve, Sole and Easy-Off, as well as around 75 other brands across more than 70 markets. Reckitt will keep a 30% stake in the essential home business after the sale, with up to $1.3bn dollars (£968m) deferred under the deal. The firm will also book around $800m (£596m) in costs for splitting out the essential home division from the rest of the business. It expects to complete the deal by the end of the year. Here's the US stock futures chart US stock futures rise US stock futures tipped higher on Friday after the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) vaulted to their latest records on fresh signs of strength in the US economy. Dow Jones Industrial Average futures (YM=F) rose 0.2%. Futures tied to the S&P 500 (ES=F) were up 0.2%, while those on the tech-heavy Nasdaq (NQ=F) climbed 0.2%. The tech-heavier indexes clinched records Thursday, part of a record-setting run as Wall Street turned bullish in the second quarter. Investors were buoyed Thursday by a softening on jobless claims and stronger-than-expected retail sales, with little indication that President Trump's tariffs are so far affecting consumer spending habits. Read more on Yahoo Finance US stock futures tipped higher on Friday after the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) vaulted to their latest records on fresh signs of strength in the US economy. Dow Jones Industrial Average futures (YM=F) rose 0.2%. Futures tied to the S&P 500 (ES=F) were up 0.2%, while those on the tech-heavy Nasdaq (NQ=F) climbed 0.2%. The tech-heavier indexes clinched records Thursday, part of a record-setting run as Wall Street turned bullish in the second quarter. Investors were buoyed Thursday by a softening on jobless claims and stronger-than-expected retail sales, with little indication that President Trump's tariffs are so far affecting consumer spending habits. Read more on Yahoo Finance Good morning! Hello from London. The calendar is not very busy in terms of economic events today, but earnings season is in full swing again — here's what we're watching: American Express (AXP) Q2 report Charles Schwab (SCHW) Q2 report Others here. Let's get to it. Hello from London. The calendar is not very busy in terms of economic events today, but earnings season is in full swing again — here's what we're watching: American Express (AXP) Q2 report Charles Schwab (SCHW) Q2 report Others here. Let's get to it.
Yahoo
2 days ago
- Business
- Yahoo
Reckitt strikes deal worth up to £3.6bn to sell Cillit Bang business
Household goods giant Reckitt Benckiser has agreed a deal worth up to 4.8 billion US dollars (£3.6 billion) to sell a majority stake in its Cillit Bang and Calgon arm. Private equity firm Advent International will buy a 70% stake in Reckitt's essential home cleaning products business, which also includes brands such as Air Wick, Woolite, Resolve, Sole and Easy-Off, as well as around 75 other brands across more than 70 markets. Reckitt will keep a 30% stake in the essential home business after the sale, with up to 1.3 billion dollars (£968 million) deferred under the deal. It will offload six factories, including a site in Derby, to Advent under the deal. The firm will also book around 800 million dollars (£596 million) in costs for splitting out the essential home division from the rest of the business. It expects to complete the deal by the end of the year. Kris Licht, Reckitt chief executive, said: 'We are executing our strategic plan at pace. 'The divestment of Essential Home represents a significant step forward in unlocking the substantial value in our business. 'This moves Reckitt towards becoming a simpler, more effective world-class consumer health and hygiene company and it will enable us to focus on a core portfolio of high-growth, high-margin power brands.' It put the essential home division, which accounts for about 14% of group net revenues, up for sale last summer as part of a major overhaul. Mr Licht has been leading a plan to restructure Reckitt, unveiling aims last year to spin off its baby formula business, Mead Johnson, and sell the essential home division to focus on 'power brands', such as Durex condoms, Gaviscon antacid and Strepsils lozenges. The essential home business delivered around £2 billion of net revenues in 2024 and it made underlying earnings of £486 million in the year to March. Reckitt said the sale would help further boost shareholder returns, with it set to pay out a 2.2 billion dollar (£1.6 billion) special dividend to investors. The group added it plans to offset the costs of spinning off the division under wider aims to cut costs across the firm. Shares in Reckitt lifted 2% in morning trading on Friday. Ranjan Sen, managing partner of Advent said: 'The carve-out represents a unique opportunity to create a focused, scaled platform of globally recognised home care brands that operate in attractive categories. 'We are confident we can build on the portfolio's strong foundations to drive operational excellence and unlock the brands' full potential.'
Bloomberg
2 days ago
- Business
- Bloomberg
Reckitt Houseclean
Morning, I'm Louise Moon Reckitt Benckiser has cleaned up — to the tune of $4.8 billion.
