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....
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- Focus: The impact of Heinz's stevia ketchup
- Focus: Gen Mills turns to M&A to bolster US ops
- Viewpoint: US health food in play - at a price
- Shopper trends: Some confidence but promos popular
- Burton's "eyeing" United Biscuits merger
- Premier Foods revamp creates three divisions
- Unilever to boost presence in Nigeria
- General Mills Q1 profits tumble
- WhiteWave to buy dairy-free firm So Delicious