http://www.cgmage.com/designerjewelrycreations.com/gold-infant/
Pfizer Sale: Nestle To Buy U.S. Drugmaker’s Nutrition Business For $11.9 Billion (Huffington post)
* Swiss group beats out rival Danone for Pfizer unit
* Group pays almost 5 times unit’s expected 2012 sales
* Buy to help Nestle in emerging markets
* Nestle keen to expand in emerging markets
* Shares trade ex-dividend, fall 3 pct
By Martin de Sa’Pinto and Catherine Bosley
ZURICH, April 23 (Reuters) – Swiss food group Nestle is to buy U.S. drugmaker
Pfizer’s infant nutrition business for $11.85 billion, beating out French
rival Danone in the battle for dominance of baby food in fast-growing emerging
markets.
Nestle, the world’s biggest food company, was already seen as likely to win
the battle due to its deep pockets after it sold its stake in eyecare group
Alcon to Novartis, and has refrained from announcing a new share buyback
programme.
The fight for the Pfizer unit, which makes 85 percent of its sales in emerging
markets, had intensified last week, with the price escalating sharply from
bids around $10 billion after Danone was reported to have raised its offer on
Friday.
The acquisition, which is subject to regulatory approval, is expected to close
in mid 2013 and will help Nestle extend its lead in the infant formula market.
“The price tag …
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