Deal bolsters Nestle in growth markets for baby food -

The Swiss food giant Nestle agreed Monday to buy Pfizer’s infant nutrition business for $11.9 billion, the company’s largest acquisition ever, as it expands its global presence in the baby food market. The deal will help Nestle tap into the growth of the emerging markets and allow Pfizer, the world’s largest drug company, to shed the business unit to focus on developing new prescription drugs.