New York

RECKITT Benckiser Group Plc is in talks to buy baby formula maker Mead Johnson Nutrition Co for about US$16.7 billion, the latest push by the Durex condom maker to build on its faster growing consumer-health business and bolster its presence in Asian markets.

The companies are discussing an offer of US$90 a share in cash, Reckitt Benckiser said late on Wednesday. That's 29 per cent higher than Mead Johnson's closing stock price. Reckitt Benckiser, based in Slough, England, would finance its biggest-ever deal with cash and debt. Mead Johnson confirmed the discussions in a separate statement, and both companies said there is no certainty that any transaction will ultimately be agreed on.