UPDATE 2: US: Pfizer seeks "maximum value" from baby food unit
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.
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.
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....
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- Why May's Brexit comments give reason for optimism
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- Bernard Matthews pensions scheme under review
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report