Reckitt pressed by shareholders to revisit understanding of nutrition business, FT reports – Notice Today Online

(Reuters) – nation consumer artefact consort Reckitt is low push from crowning shareholders to revisit a understanding of its anthropologist President Nutrition business, mass proceedings and another setbacks at the division, the Financial Times reportable on Wednesday.

Reckitt acquired U.S. child instruction concern anthropologist President Nutrition for $16.6 1000000000 in 2017, but is currently hunt to reverse a $60 meg finding in a causa after a commission sequential the organisation to clear the care of a early child who died of an viscus disease after existence fed the Enfamil child formula.

The consort has said it faces “contingent liabilities” – a constituent utilised for those interdependent on forthcoming events – from the creation badness meet filed against anthropologist President in the United States.

Portfolio managers at Reckitt’s ordinal maximal investor Flossbach von Storch, and Causeway Capital Management, a top-10 shareholder, told the FT that they would be unstoppered to sight Reckitt delude the unit.

“Nutrition does not rattling hit a brawny strategic fit, and we’d be unstoppered to wager that playing encounter a newborn owner,” said saint Jäger, a portfolio trainer at Flossbach von Storch, according to the FT.

A portfolio trainer at Causeway Capital Management told the FT that “Reckitt has identified the nutrition playing as digit that doesn’t sound into their future.”

Reckkit, Flossbach von Storch, and Causeway Capital Management did not directly move to Reuters letter for comment.

Reckitt’s shares are downbound most 19% this year.

(Reporting by Devika Nair in Bengaluru; Editing by Sonia Cheema)