UPDATE 2: US: Pfizer seeks "maximum value" from baby food unit
By Katy Askew | 18 April 2012
US pharmaceutical group Pfizer has insisted it will get maximum value for its shareholders out of any move to separate its infant nutrition business.
"The nutrition business is a highly-valued asset, and our decision about strategic options will be driven by value creation for the business and delivering the best after-tax value for our shareholders," a spokesperson for the company told just-food today (18 April).
Reports have suggested that Pfizer is nearing a deal to sell its infant nutrition unit for US$9-10bn.
An announcement on the move is expected as early as next week, with European food majors Nestle and Danone cited as potential buyers.
Pfizer declined to comment directly on the reports. However, the spokesperson added "no decisions have been made" and insisted the group is in the "ongoing" process of "exploring strategic alternatives" for the unit.
When contacted by just-food Nestle declined to comment, while Danone was not immediately available for comment.
Sectors: Baby food, Mergers & acquisitions
Companies: Pfizer, Nestle, Danone
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19 Apr 2012 -Currently reading -
UPDATE 2: US: Pfizer seeks "maximum value" from baby food unit
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