US: Pfizer "nearing" sale of infant-nutrition business
Pfizer "nearing" baby food sale
The US pharmaceutical company has previously confirmed to just-food that it is "considering strategic options" for the business, including a "sale, spin-off or other transaction".
According to a report in the Wall Street Journal, Pfizer has stuck an agreement to sell the unit to Nestle for US$9bn. Meanwhile, other reports have suggested that Nestle and Danone have both submitted competing bids, valuing the business at around $10bn.
Pfizer is expected to announce a sale of the unit next week.
Last week brought further evidence of the difficulties facing food manufacturers as they look to grow their businesses in the developed markets of the US and Europe....
just-food last week brought live coverage from the GMA/FMI Sustainability Summit in Washington DC where presentations were given from members of the Environmental Defense Fund, the Rainforest Alliance...
- Comment: Nestle reacts to world of 3G and Buffett
- Why it is too early to call Unilever food revival
- France takes big step to uniform FOP labels
- What the analysts say: The verdict on Danone's Q1
- How will Flowers Foods grow in speciality bread?
- Unilever food, refreshment sales rise
- Fonterra says rain needed to maintain milk supply
- Organic food sales in US up 11% in 2014
- UPDATE: Danone CEO upbeat on 2015 growth
- Nestle in "exclusive" Davigel talks with Brakes