Danone, Nestlé and Heinz have been tipped as possible bidders for baby nutrition group Mead Johnson.

Bristol-Myers Squibb said it plans to spin off its 83% stake in Mead Johnson, the maker of baby formula brand Enfamil. Analysts said Mead Johnson would be attractive to bidders because of its popularity in Latin America and Asia.

“The spin-off makes an acquisition of Mead Johnson by another company much easier,” Claudia Lenz, an analyst at Bank Vontabel, told Bloomberg.