Antitrust Issues Kill $12B Nestle-Pfizer Deal In Mexico

Law360, New York (November 20, 2012, 3:17 PM EST) -- Mexico's antitrust agency on Tuesday said it denied Nestle SA's bid to acquire Pfizer Inc.'s Mexican infant nutrition business, saying the deal — part of a planned $11.9 billion acquisition of Pfizer's global infant nutrition unit — could raise prices in the country's baby formula market.

The Federal Competition Commission, or CFC, voted 4-1 to reject the acquisition, saying proposals the companies submitted in support of the deal insufficiently addressed the potential market damage that could result from the merger. However, the CFC gave the companies...
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