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Pfizer garners $11.9B for nutrition unit

Apr 23, 2012 - The Deal Pipeline
Mergers and Acquisitions

Swiss food giant Nestlé SA on Monday triumphed in the bidding for Pfizer Inc.'s infant nutrition business with an above-forecast $11.85 billion bid apparently lodged after last-minute competition from another finalist, Groupe Danone SA. The price is well above the valuation of up to $10 billion predicted in April 18 reports and appears to have risen after Danone reportedly increased its bid late last week.

The Vevey, Switzerland, buyer noted that it is acquiring a company with esti...