Tags: nestle | pfizer | M&A | baby formula

WSJ: Nestle near $9 Billion Deal for Pfizer Unit

Tuesday, 17 Apr 2012 05:03 PM

Drugmaker Pfizer Inc is close to a deal to sell its infant nutrition business to Swiss food giant Nestle SA for at least $9 billion, the Wall Street Journal reported on Tuesday.

Citing people familiar with the matter, the Journal said Nestle appears to have outstripped Danone and Mead Johnson Nutrition Co, who had teamed up for a bid, and that a deal could be announced as soon as next week. Nestle was already seen as a favored bidder.

Pfizer has been exploring options for its animal health and infant nutrition businesses for some time. A company official said on Tuesday that no decisions have been made and that the company will be in a position to announce any decisions this year.

A Nestle spokesman was not immediately available for comment.

© 2017 Thomson/Reuters. All rights reserved.

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