Nestlé set to win auction for US baby-feed maker Pfizer Nutrition

Nestlé is set to win the auction for American baby-feed maker Pfizer Nutrition, paying £7.35billion for the business as it expands its infant formula arm. Pfizer’s annual sales of £1.5billion are heavily swayed towards developing markets such as China, Indonesia, the Philippines and swathes of Latin America. This makes the move highly controversial, not least because three decades ago Nestlé became an international pariah over its practices in under-developed areas. Controversy: The company has faced criticism in the past for aggressive selling of baby feed in Africa It was accused of aggressively selling its baby feed formula to mothers across Africa, urging them to choose the...