Blog: Nestle receives green light on Pfizer deal
Michelle Russell | 6 November 2012
Swiss food group Nestle today (6 November) received approval from the Chinese Ministry of Commerce for its US$11.85bn deal to acquire Pfizer's infant nutrition business.
The approval brings Nestle another step closer to completing the acquisition, which was announced in April this year, enabling the world's largest infant nutrition group to extend its lead in this fast-growing category.
Pfizer Nutrition operates in more than 60 countries globally and 85% of sales are generated in emerging markets, meaning the acquisition effectively fills in the blanks on the map for Nestle. It will provide the company with increased scale in a high-growth, high-margin, category in fast-growing developing markets, CEO Paul Bulcke told investors as it emerged as victor of competitive auction process.
Nestle beat companies including Danone and Mead Johnson to seal the agreement. The next hurdle, however, is to receive approval from anti-trust bodies in several countries in order to fully complete the acquisition.
Coca-Cola Amatil is co-operating with Australian state police after an employee was arrested for money laundering and receiving a reported half-a-million Australian dollars in corrupt commissions. ...
Yildiz Holding reportedly wants its snacks business to overtake Kellogg and become the world's second-largest snack manufacturer....
Nestle, Danone, Kerry Group and Tyson Foods are among the multinational consumer goods manufacturers presenting next week at the Consumer Analyst Group of Europe conference in London - of which just-f...
- Analysis: Is Heinz, Kraft merger "a growth story"?
- M&A Watch: Who could be on 3G Capital's radar?
- The challenges awaiting ConAgra's new CEO
- Viewpoint: Faber-led Danone gets realistic
- Focus: Can Mars gain share in Indian chocolate?
- UPDATE: Heinz, Kraft strike merger agreement
- Fatal explosion at French desserts firm Senagral
- Kraft "in buyout talks" with Heinz owner 3G
- Infographic: Heinz, Kraft unveil combined business
- Buffett: Kraft Heinz to withstand health focus