Pfizer Nears $9B Sale Of Baby Formula Unit To Nestle

Law360, New York (April 17, 2012, 8:10 PM EDT) -- Pfizer Inc. was reportedly on the verge Tuesday of selling its infant nutrition business to Swiss food giant Nestle SA in a deal worth $9 billion.

The deal, which could be announced as early as next week, could force Nestle to sell off assets in other markets in order to gain antitrust regulatory approval, the Wall Street Journal reported, citing unnamed sources familiar with the matter.

Representatives for Pfizer and Nestle could not immediately be reached for comment Tuesday.

Last year, New York-based Pfizer announced a...
To view the full article, register now.