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Pfizer to Sell Infant Nutrition Unit to Nestle for $11.85 Billion in Cash (PFE)

By Dividend.com,  April 23, 2012, 08:30:59 AM EDT

Pharmaceutical giant Pfizer Inc. ( PFE ) on Monday announced a to deal to sell its infant nutrition business to Swiss food maker Nestle SA.

The $11.85 billion all-cash deal represents a significant upside to the $9 billion to $10 billion analysts had predicted for the acquisition.

Nestle noted the deal would "enhance its position in global infant nutrition," since 85% of Pfizer Nutrition's sales come from emerging markets. The transaction is subject to regulatory approval and other conditions, but is expected to be completed by the first half of 2013.

Pfizer shares posted small losses in premarket trading Monday.

The Bottom Line
We have been recommending shares of Pfizer ( PFE ) since Mar.2, when the stock was trading at $21.49. The company has a 3.90% dividend yield, based on Friday's closing stock price of $22.56.

Pfizer Inc. ( PFE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: PFE



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