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.
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