China Mengniu Dairy Co likely to bid for Pfizer unit

25 October 2011: China Mengniu Dairy Company is likely to bid for Pfizer's infant-nutrition business.

Mengniu's consideration of a potential bid is at an early stage. The infant-nutrition business may fetch as much as $10.5 billion, and draw interest from companies including Danone, Abbott Laboratories and Nestle. Mengniu's market value is just over half that amount, and shares in the cheese and milk producer fell on Monday after its interest was reported.The deal size for the whole global division is really a bit big.

Source: Economic Times