Nestle SA Closing In on Pfizer Inc.'s Baby Formula Biz, May Pay Up to $10 Billion: Report

Published: Apr 18, 2012

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.
br> 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.

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