Published November 20, 2014
Pfizer Inc is delaying sale of its infant-nutrition business as it is concerned a sale may lead to an increased tax burden, Bloomberg reported, citing people with direct knowledge of the plans.
Pfizer may send sales documents to potential buyers in November, two months later than expected, Bloomberg cited the people as saying.
Pfizer may still go ahead with its plan to sell the unit, which it acquired less than three years ago, they said.
The company's advisers are also still gathering information on the unit's revenue and brands in Asia and other emerging markets, further slowing the process, said one of the people.
Pfizer could not be immediately reached for comment.
Joan Campion, a Pfizer spokeswoman told Bloomberg that no decisions have been made regarding the evaluation. "We expect to complete any transaction that may result from this evaluation in 12 to up to 24 months."