For Sale: ConAgra, Pfizer divesting

According to The New York Times, Pfizer is considering selling its consumer products division (Listerine, Benadryl, Rogaine, Rolaids -- $3.9 billion in sales).

Pfizer, the world's largest drug maker, has taken several steps recently to bolster its flagging stock, including raising its dividend and trying to streamline its operations. Spinning off the consumer unit would be another step to please Wall Street, because investors view the division as outside Pfizer's core business of prescription drugs, analysts said.

Meanwhile, Brandweek was reporting that ConAgra is selling its refrigerated meats division, including such brands as Armour and Butterball.

The company said it would sell its refrigerated and processed meat product brands, with annual sales of about $1.9 billion, within 10-12 months. But the sale does not include such growth-drivers as Healthy Choice, Hebrew National, Brown 'N Serve, Slim Jim or Pemmican businesses. It does include Eckrich smoked sausages, lunchmeats and hot dogs.

They will also be moving headquarters for grocery from Irvine, CA to Naperville, IL, and will consolidate retail and food service.