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February 20, 2012

US: Danone, Nestle “submit bids” for Pfizer baby food unit

Danone and Nestle have remained silent over reports that each company has submitted competing preliminary bids for Pfizer's baby food business.

Danone and Nestle have remained silent over reports that each company has submitted competing preliminary bids for Pfizer’s baby food business.

According to a Bloomberg report, which cited two unnamed sources, Danone and Nestle have both offered around US$10bn for the business and are now looking at how to overcome antitrust hurdles.

Bloomberg suggested that Nestle is considering buying Pfizer wholesale and auctioning off businesses that would raise regulatory concerns, while Danone is reportedly weighing a joint bid with Mead Johnson Nutrition.

Danone and Nestle declined to comment on the reports.

Meanwhile, a spokesperson for drug-maker Pfizer told just-food that the group had yet to make a decision over the future of the unit, which generated revenues of $2.14bn last year.

“We are still exploring options,” the spokesperson said. “These could include – but are not limited to – a sale or spin-off of the business.”

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