French food giant Danone has reportedly raised its offer for the infant nutrition business of US pharmaceutical group Pfizer.

The bid, according to news website WanSquare, is close to US$11bn in an attempt to outbid rival Nestle, the publication has said.

Reports this week have suggested that Pfizer is nearing a deal to sell its infant nutrition unit for $9-10bn, with European food major Nestle also cited as a potential buyer.

Pfizer has insisted it will get maximum value for its shareholders out of any move to separate its infant nutrition business.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now