$12B Nestle-Pfizer Deal Could Impact Formula Market: Regulator

Law360, Los Angeles (August 31, 2012, 8:00 PM EDT) -- Australia's antitrust regulator voiced concern Friday over Swiss food giant Nestle SA's planned $11.9 billion acquisition of Pfizer Inc.'s infant nutrition business, saying the merger could diminish competition in the country's baby formula market.

The Australian Competition & Consumer Commission said in a statement of issues that the merger, if completed, would eliminate one of Nestle's closest competitors from the market, likely resulting in “muted competition.”

Nestle announced in April that it had agreed to acquire Pfizer Nutrition following months of speculation. H.J. Heinz Co. and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.