Pfizer Said to Be Near $11 Billion Unit Sale to Nestle

Pfizer Inc., the world’s largest drug maker, is near an agreement to sell its infant-nutrition business to Nestle SA for about $11 billion, said people with knowledge of the matter.

An announcement may come as soon as today, said the people, who declined to be identified because the matter is private. Nestle was chosen on April 22 over Danone SA, which also bid about $11 billion, one of the people said.