Mayer Brown client Nestlé has agreed to buy Pfizer's infant nutrition business for $11.85 billion, in a move to expand the company's presence in the global baby food market. The transaction is one of the largest acquisitions announced to date in 2012. The target business has a strong presence throughout the emerging markets, particular China. The transaction remains subject to regulatory approval.
A global team of lawyers from Mayer Brown advised Nestlé on the transaction, including Corporate & Securities partners David Carpenter (New York) and John Boelter (Chicago), who led the team and included: Corporate & Securities – partner Mark Uhrynuk (Hong Kong) and associates Michael Torres (Chicago) and Zoe Badger and Sarah Lord (New York); Antitrust & Competition – partner Adrian Steel (Washington, DC); Intellectual Property – partner Richard Assmus (Chicago); and Tax Transactions & Consulting – partners James Barry and Lee Morlock (Chicago).