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In November, Pfizer will begin an auction process for its consumer health business, which could sell for $15 billion. The business owns great brands like Chapstick, Centrum and Advil. A number of companies have already expressed interest. Reuters reporters Pamela Barbaglia, Martinne Geller, and Ben Hirschler write:
Several global companies, including GlaxoSmithKline and Reckitt Benckiser, have expressed interest in bidding for the unit, which had sales of about $3.4 billion in 2016.
The prospective sale, which is being led by Centerview Partners, Guggenheim Securities and Morgan Stanley, was first mooted on Oct. 10, when Pfizer said it was considering strategic options for the unit.
But preliminary discussions with interested parties including Reckitt have already taken place, one of the sources said, adding the U.S. drugmaker wants to get the ball rolling before the end of this year.
Read more here.
Jeremy Jones, CFA
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