USA: Pfizer to sell Adams sugar confectionery division
US pharmaceuticals giant Pfizer is expected to announce it is putting its Adams candy unit on the market in the next few days. According to Reuters, Pfizers is selling both Adams and the Schick shaving business to focus more closely on its cores operations. The two units together are expected to attract bids worth as much as US$7bn. It is not yet known which investment banks will be appointed to handle the sales, but Reuters's sources say Morgan Stanley is tipped to run the Schick sale.
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