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Wyeth An Appealing But Daunting Deal For Mengniu

机译:惠氏为蒙牛带来诱人但艰巨的交易

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While Swiss food giant Nestlé and European food major Danone nhave been linked to an acquisition of Pfizer’s infant nutrition busi-nness Wyeth, Mengniu Dairy’s name has recently been thrown ninto the ring as well. According to Bloomberg, Chinese dairy gi-nant Mengniu is contemplating a bid for Wyeth, which is valued at naround US$10bn. However, Mengniu has refuted such speculation nand claimed that it has ‘no concrete arrangement or plan in connec-ntion with the bid’. While we see compelling reasons for Mengniu nto acquire Wyeth given the dairy unit’s strong brand appeal and nextensive reach across emerging markets, an acquisition of Wyeth would be financially stretching for the Chinese dairy giant, whichncould probably explain Mengniu’s reservations about the acquisition
机译:虽然瑞士食品巨头雀巢(Nestlé)和欧洲食品巨头达能(Danone)与收购辉瑞(Pfizer)的婴儿营养业务惠氏(Wyeth)有联系,但蒙牛乳业的名字最近也被广泛使用。据彭博社报道,中国乳业巨头蒙牛集团正在考虑竞购惠氏,其价值约为100亿美元。但是,蒙牛反驳了这种猜测,并声称“没有与竞标有关的具体安排或计划”。尽管鉴于乳品部门强大的品牌吸引力和新兴市场的广泛影响力,我们认为蒙牛收购惠氏的迫切原因,但对惠氏的收购对于中国乳业巨头而言将在财务上有所延伸,这可能可以解释蒙牛对此次收购的保留

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