According to sources familiar with the matter, pharmaceuticals giant Pfizer Inc. ( PFE ) is nearing a blockbuster deal to sell its infant nutrition division to Swiss food giant Nestle.
Various reports peg the deal in the $9 billion to $10 billion range. Nestle has allegedly outbid French competitor Groupe Danone.
Most analysts expect a deal to be struck by the end of April. All parties involved in the matter declined to comment, as negotiations are ongoing.
Pfizer shares posted small losses in premarket trading Wednesday.
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 3.94% dividend yield, based on last night's closing stock price of $22.31.
Pfizer Inc. ( PFE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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