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April 20, 2012

FRANCE: Danone “raises offer for Pfizer baby food unit”

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

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.

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