Pfizer Inc. (PFE) is delaying a sale of its infant-nutrition business to give it more time to explore whether a tax-free spinoff will get more value for investors, said people with direct knowledge of the plans. Pfizer may send sales documents to suitors in November at the earliest, two months later than potential buyers had anticipated, said the people, who declined to be identified as they aren’t authorized to speak on the matter. A sale may fetch as much as $10.5 billion and attract interest from companies including Danone (BN), Abbott Laboratories (ABT) and Nestle SA (NESN), people with knowledge of the process said in July.
