Pfizer Expected to Announce Sale of Baby Food Business to Nestle
Pfizer is expected to announce on Monday it has reached a deal to sell its baby food business to Nestlé for more than $10 billion.
The Swiss food giant beat rival Groupe Danone for the Pfizer unit after a months-long auction. Pfizer said in July it would divest the infant-nutrition business as well as an animal-health unit, seeking to focus on its core drugs business.
Source:
http://online.wsj.com/article/SB10001424052702303592404577360800154506884.html?mod=djemalertNEWS