Nestle, the world's biggest food group, is closing in on a deal to buy big pharma Pfizer's infant nutrition business for up to $10 billion to boost its business in China and extend its lead in the world of formula milk for babies, sources familiar with the matter said on Wednesday.
The Swiss group had already been seen as favourite for the business, and is now set to seal a deal later this month after outbidding a joint team of Danone and Mead Johnson in a largely two-horse race.
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