Mergers and Acquisitions Roundup: Nestle Battles for Pfizer’s Infant Nutrition Unit
Nestle (NSRGY.PK) leads Danone (DANOY.PK) in the race to buy Pfizer’s (NYSE:PFE) $10 billion Wyeth infant nutrition unit. The firms emerged as frontrunners following first-round bids, Reuters reports. Mead Johnson (NYSE:MJN) and Heinz (NYSE:HNZ) are also involved in the second round for Wyeth, which has a strong presence in China.
InterActiveCorp (NASDAQ:IACI) plans to sell a $50 million stake in its Vimeo online video site at a $300 million valuation, reports Pando Daily. The company is looking to maintain a 50% “non-controlling stake” in Vimeo following the deal, while claiming over 55 million unique visitors, despite revenues of just $5 million.
Medco Health (NYSE:MHS) and Express Scripts (NASDAQ:ESRX) shares could rebound after the news that the Federal Trade Commission may reject the merger deal between the two companies. Sources tell the New York Post that the deal still has a greater than 50% chance of approval. Therefore a merger of commercial real estate data providers CoStar Group (NASDAQ:CSGP) and LoopNet (NASDAQ:LOOP) may come to a screeching halt.
Republic Airways (NASDAQ:RJET) is close to hiring financial advisers. They would help sell its Frontier Airlines unit, says CEO Bryan Bedford, but the chances another airline will acquire Frontier are “very, very low,” he adds. The two most likely scenarios are selling Frontier entirely or in part to a private equity firm, or spinning it off to RJET shareholders.
Goldman Sachs (NYSE:GS) announced it purchased Dwight Asset Management from Old Mutual Asset Management. The amount for which was undisclosed as it makes a stronger push into the defined contribution investment-only business. The firm expects Dwight to become a part of Goldman Sachs Asset Management sometime in the second quarter.
Investing Insights: Glencore and Xstrata Announce $90B Merger.
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