Nestlé Wins Pfizer Auction – The Wall Street Journal.

I thought you would be interested in the following story on WSJ.com.

Nestlé Wins Pfizer Auction

http://online.wsj.com/article/SB10001424052702303592404577361070078138812.html

Nestlé SA NESN.VX -0.09%muscled out rival Groupe Danone SA to buy Pfizer Inc.’s PFE -0.54%infant-nutrition business, but only after agreeing to pay $11.85 billion, as much as 20% more than many analysts had expected the business to fetch.

The hard-fought auction shows how Pfizer’s nutrition business was seen as a virtual must-have for the two European food giants, which both aspire to lead the fast-growing and economically resilient infant formula business. The Pfizer baby-food unit, while not core to the U.S.-based drug maker, is considered among the world’s most attractive given its outsized exposure to developing markets.