Pfizer is reportedly nearing an agreement to sell its infant nutrition business, with both Nestle and Danone linked to the deal.
The US pharmaceutical company has previously confirmed to just-food that it is “considering strategic options” for the business, including a “sale, spin-off or other transaction”.
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According to a report in the Wall Street Journal, Pfizer has stuck an agreement to sell the unit to Nestle for US$9bn. Meanwhile, other reports have suggested that Nestle and Danone have both submitted competing bids, valuing the business at around $10bn.
Pfizer is expected to announce a sale of the unit next week.
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