Nestlé has agreed to buy Pfizer Inc.’s infant nutrition business for $11.85 billion in an effort to tap emerging markets and clinch its spot as the world’s top provider of baby formula, The Wall Street Journal reports. The Swiss company estimates 2012 sales for its purchase at $2.4 billion, mostly from emerging markets. Nestlé expects the deal, which needs regulatory approval, to add to earnings per share in the first full year, the report says.
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