Mengniu Dairy, one of China’s largest milk producers, is considering a bid for Pfizer’s infant nutrition business as potential buyers prepare for the start of the sales process next month.
People familiar with the matter said that Mengniu was talking to UBS about a bid for Pfizer’s unit, which the pharmaceutical company said in July it would sell or spin off to its shareholders.
With $1.9bn in revenues in 2010, the business could be worth as much as $10bn, industry specialists said.
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