Nestle SA Closing In on Pfizer Inc. (PFE)'s Baby Formula Biz, May Pay Up to $10 Billion: Report
4/18/2012 7:12:48 AM
Pfizer Inc. (PFE) may select a buyer for its infant-nutrition unit as soon as next week after receiving bids from Nestle SA (NESN) and Danone SA (BN), according to people with knowledge of the matter.
Nestle and Danone each submitted final offers of about $10 billion for the business, said the people, who declined to be identified because the discussions are private. Other consumer companies and private-equity firms are also involved in the auction because they may alleviate the antitrust risk for the bidders, one person said yesterday.