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Nestlé Buys Pfizer Nutrition; Deal Expands Presence In China, Other Emerging Markets

April 23, 2012: 06:07 AM EST
Switzerland's Nestlé agreed to buy Pfizer Nutrition, the baby food business of United States pharmaceutical company Pfizer, beating French rival Danone in the process. Nestlé will pay almost 20 times Pfizer Nutrition's earnings forecast for 2012, causing shares of the Swiss food group to fall 2.5 percent after the purchase deal was announced. The deal, however, gives Nestlé ownership of a business with high exposure in emerging markets, with China, for example, becoming the third largest market for Nestlé overall.
Emma Thomasson and Martin de Sa'Pinto, "Nestle wins pricey battle for Pfizer baby food unit", Reuters, April 23, 2012, © Thomson Reuters
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