No formal bid for Pfizer Mint & Gum unit
Weekly Corporate Growth Report, Sep 30, 2002
Pfizer Inc., primarily a drug company, acquired a mint and chewing gum unit a little more than two years ago when it purchased Warner-Lambert. British media reported recently that Cadbury Schweppes was preparing a $4.7 billion offer for the unit, which includes the Trident, Clorets, and Dentyne brands.
Hank McKinnell, Pfizer's CEO, has stated that he is not aware of any bid from Cadbury. He said that Pfizer is exploring its options, and that Pfizer is in an "auction process" with the chewing gum unit. McKinnell declined to comment on whether $4.7 billion would be an adequate price for the unit.
Copyright NVST, Inc. Sep 30, 2002
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