Updated from 6:43 p.m. ET to include response from Pfizer spokesperson.
NEW YORK (TheStreet) -- Pfizer (PFE) may be close to deciding on a sale of its baby nutrition unit and an initial public offering of its animal health business, The Wall Street Journal reported after the market close on Tuesday, citing unnamed sources.
While Pfizer CEO Ian Read has telegraphed the divestiture of both units since mid-2011, The Journal reports that the pharmaceuticals giant may announce a baby health sale to Nestlé for $9 billion as early as next week.
Meanwhile, Pfizer may hire JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS) to lead an initial public offering of its animal vaccine and drug unit as early as this summer. The potential deals would be a boost to M&A and IPO markets, which have stalled in 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV