Deals
Nestle Takes Lead in Bids for Merck’s Consumer Unit
- Perrigo, Bain and Cinven are said to have dropped out
- Reckitt, Mylan also eyeing assets that may fetch $5 billion
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Nestle SA, the world’s largest food company, is emerging as the lead bidder to acquire Merck KGaA’s consumer-health business for as much as $5 billion after some of the other potential suitors dropped out, according to people familiar with the matter.
Nestle has submitted the highest offer and the German company is likely to select a winner during the first quarter, the people said, asking not to be identified because the discussions are confidential. Companies such as Perrigo Co. and private equity firms Bain Capital and Cinven have decided to drop out of the sale process, the people said.