Novartis/Nestle deal closes

Executive Summary

Nestle completed its acquisition of Novartis Medical Nutrition July 1 following "the successful conclusion of the regulatory process," Nestle announces. The Novartis unit and its roughly 2,000 employees will be integrated into Nestle Nutrition, Nestle says. "The acquisition propels Nestle into a strong number two position globally in the fast-growing and lucrative healthcare nutrition market, helping to accelerate the profitable development of the overall nutrition business," the firm adds. Plans for the transaction were announced in December (1"The Tan Sheet" Dec. 18, 2006, p. 8)...